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Oil production cuts News

26 May 2017

OPEC to extend output cuts, to set up OPEC-India Working Group

Even as the OPEC and non-OPEC producers agreed to extend until March 2018 their ongoing oil output cuts, India has reached an understanding with the global oil cartel to establish a joint working group to serve as a forum for "producer-consumer dialogue" to address mutual concerns.

16 May 2017

Oil market 'almost balanced' despite rising US supply: IEA

Supply and demand in the oil market are close to matching up, the IEA said on Tuesday, but rising US supply could mitigate landmark OPEC-led production cuts.

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