Saudi Arabia cut production by 564,000 bpd in January, Reuters survey says
Saudi Arabia cut production by 564,000 bpd in January, or 16% more than the 486,000 bpd reduction it pledged in November. But the OPEC members as a whole have cut output by just 958,000 bpd, or 18% less than promised cuts totalling 1.164 mbpd, according to the monthly Reuters survey. As a result, Saudi Arabia has shouldered almost 60% of the output cuts so far, compared with a pledged share of just over 40%. (Reuters)
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