With Non-Opec on Board, Saudis Signal Deeper Cuts

摘要

With 11 non-Opec countries now having formalized pledges to curb supply, Saudi Arabia says it is committed to making even deeper production cuts than the ones agreed with its fellow Opec members last month. Immediately after non-Opec signed up to take 558,000 barrels per day out of the market in Vienna on Saturday, Saudi Energy Minister Khalid al-Falih told reporters in Vienna the kingdom would cut more than the 486,000 b/d it is obligated to under the agreed Opec deal, which caps Saudi output at 10.058 million b/d for an initial six months (OD Dec.1'16).