Oil prices rise by 1 percent after Saudi announces December supply cut

By Henning Gloystein SINGAPORE (Reuters) - Oil prices rose by about one percent on Monday after top exporter Saudi Arabia announced a cut in supply

Crude oil futures pop higher as Saudi Arabia vows to cut production

Crude oil futures have spiked in early trade on Monday, following reports that Saudi Arabia will cut production levels in December.

Aiming not to be the world’s biggest car company | Inquirer Business

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.

Oil bears in charge

Oil prices are set to become an electoral issue in 2019 Lok Sabha elections as Saudi Arabia has decided to curtail oil supply from December

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