Voluntary Cut News Today

Saudi Arabia's decision to delay oil capacity expansion plans should not be translated as an assessment that demand for crude is falling, according to...

This decision maintains the Kingdom’s production at approximately 9 million barrels per day for the month of December 2023, an official statement from the Ministry of Energy read.

Russia will analyze the market in November to decide whether to deepen its oil output cut or increase production, Russian Deputy Prime Minister Alexander Novak said on Wednesday.

Russia fulfills its obligations under the OPEC+ deal and is not ruling out extension of its voluntary reduction of oil exports to October, Russian Deputy Prime Minister Alexander Novak said on Wednesday.

ALMATY. KAZINFORM Kazakhstan together with oil producing companies continues monitoring observance of its commitments under the OPEC+ agreement and consultations on further reduction of oil production, Kazinform learned from the Ministry of Energy press service.

Brent crude futures was at $78.42 a barrel, up $2.29, or 3%, at 2219 GMT after earlier hitting a session-high of $78.73 a barrel

Oil prices rise as Saudi Arabia pledges further production cuts. OPEC+ deal and macroeconomic factors impact global oil markets. Market assessment and price projections discussed.

Discover the latest developments in the oil industry as Riyadh announces output cuts to stabilize prices.

NEW YORK, April 3 (Xinhua) -- Oil prices surged on Monday after major producers unveiled a surprising decision over the weekend to cut output. The West Texas In