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

Crude oil prices have spiked after Saudi Arabia vowed to cut production

Saudi Arabia to ship less oil to world markets in December as it considers a coordinated output cut - Firstpost

Now Saudi Arabia wants to act to prevent a further slide in prices and is leading discussions on cutting oil output next year, sources said.

Oil prices rise by 1% after Saudi announces Dec supply cut, - THE BUSINESS TIMES

: THE BUSINESS TIMES Energy & Commodities - [SINGAPORE] Oil prices rose by about one per cent on Monday after top exporter Saudi Arabia announced a cut in supply for December, seen as a measure to halt a market slump that had seen crude decline by 20 per cent since early October.. Read more at The Business Times.

US West Texas Intermediate (WTI) crude oil futures were at $60.73 per barrel.

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.

Saudi Arabia, Russia discussing possible oil-production cuts

Momentum seems to be growing among major oil producers to reduce output in an effort to end a slump in prices.

Oil producers see oversupply, eye cutting output | Inquirer Business

Major oil producers Opec Sunday that crude supply next year would outstrip demand, calling for new strategies based on production adjustments

Major oil producers foresee oversupply, edge closer to production cuts

Oil prices have shed fifth of their value in one month since surging to four-year high in early October

Oil producers see oversupply, call for new strategies

Major oil producers said Sunday that crude supply next year would outstrip demand, calling for new strategies based on production adjustments. Khalid al-Falih, Energy Minister of the world's top supplier Saudi Arabia, said the kingdom would cut its production by 500,000 barrels per day. Russia,