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Bear oil market has Saudis weighing output cut

Published 11/11/2018, 10:00 AM
© Reuters.  Bear oil market has Saudis weighing output cut
  • Grappling with a drop in crude prices, Saudi Arabia is discussing a proposal that could see OPEC and non-OPEC oil producers cut output by up to 1M barrels per day, sources told Reuters.
  • Any such deal would depend on Iranian export levels and U.S. sanctions waivers.
  • Meanwhile, Venezuela is hoping to steeply raise oil production next year, but will respect any new deal if OPEC agrees to reduce output from December.
  • ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, WTIU, OILK, OILX, WTID, USOI, USOU, USOD, OILD, OILU, USAI
  • Now read: The Price Of Crude Oil Keeps Coming Back


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