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Wednesday, 1 February 2017

Saudi Arabia resumes swing producer role in oil: Kemp | Reuters

Saudi Arabia resumes swing producer role in oil: Kemp | Reuters:

"Saudi Arabia and its Gulf allies have accounted for almost all the production cuts delivered by OPEC so far as the kingdom resumes its familiar role as swing producer. Saudi Arabia cut production by 564,000 barrels per day (bpd) in January, or 16 percent more than the 486,000 bpd reduction it pledged in November. But the organization's members as a whole have cut output by just 958,000 bpd, or 18 percent less than promised cuts totaling 1.164 million bpd, according to the monthly Reuters survey."



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