ENERGY To prop up oil prices, producers begin to weigh cuts Major oil producers meeting in Abu Dhabi, United Arab Emirates, on Sunday signaled that they were considering once again changing course and cutting production. But the group, which included the Saudi oil minister, Khalid al-Falih, and his Russian counterpart, Alexander Novak, did not make any firm decisions.

Oil producers see oversupply, call for new strategies, - THE BUSINESS TIMES

: THE BUSINESS TIMES Energy & Commodities - [ABU DHABI] Major oil producers said Sunday that crude supply next year would outstrip demand, calling for new strategies based on production adjustments.. Read more at The Business Times.

Saudi Arabia to cut exports with new signs of oil surplus

Saudi Arabia signaled it will reduce oil exports by as much as half a million barrels a day in December, the first tangible sign that OPEC is starting to trim output as it faces an oversupplied market in 2019.

Saudi Arabia, Others Inch Closer to Oil Output-Cut Pact

OPEC is likely to agree to an oil production cut when it meets next month in Vienna as oil prices enter bear market territory and signs of oversupply loom. Saudi Arabia confirmed that it would cut its own oil supplies next month and Russia signaled that it could follow suit.

OPEC and allies warn surging oil output is poised to leave crude market oversupplied in 2019

The oil market looks poised to swing into oversupply next year as growing global crude output swamps shaky demand, a committee of allied producer nations said on Sunday.

Saudi Arabia in talks to cut oil output after US waivers hit prices

The US administration has vowed to reduce Iranian oil exports to zero and US President Donald Trump has put pressure on Saudi Arabia to raise output to cool the market.

Saudi Arabia to ship less oil in December as it floats cut talks possibility

Khalid al-Falih told reporters that Saudi Aramco’s customer crude oil nominations would fall by 500,000 bpd in December versus November due to seasonal lower demand. The cut represents a reduction in global oil supply of about 0.5 percent. Saudi Arabia has increased output by just about 1 million bpd