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OPEC+ agrees to redistribute oil cuts under Saudi pressure

OPEC+ agrees to redistribute oil cuts under Saudi pressure

OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia. China’s record imports of crude oil in November underscore both the challenges and risks facing OPEC. Brent rises 3% in wk;WTI up 7% in biggest weekly gain since June. It has long carried an outsized share of...

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Saudi prince sees deal with Kuwait to restart oil fields

Saudi prince sees deal with Kuwait to restart oil fields

Saudi Arabia’s crown prince said he’s getting close to striking a deal with Kuwait about two jointly owned fields that can produce half a million barrels a day of crude. We believe that we are almost close to having something with Kuwait,” Crown Prince Mohammed Bin Salman, who met with Kuwait’s Emir Sheikh Sabah Al-Ahmed...