How Deep Will Saudi Cut Its Oil Output? To the Lowest Since 2015 - Bloomberg:
"Saudi Arabia has promised to do “whatever it takes” to end the global oil gut. If it cuts supplies in November by as much as it pledges, the kingdom will reduce production and exports alike by more or less a million barrels a day compared with last year.
And that’s about all the world’s biggest oil exporter -- and linchpin of a global plan to bolster crude markets -- can do to prop up prices: pump and sell less of the stuff.
State-run Saudi Aramco plans to pump about 9.77 million barrels a day next month, in what would be its smallest output since January 2015. That’s about one million barrels a day less than the 10.72 million it pumped in November 2016. The Saudis disclosed their production plans on Monday when the energy ministry announced that Aramco will supply buyers with less oil than they asked for in November. Much less."
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