Global Oil Cuts
Saudi Arabia's economy suffers biggest contraction since 2020 on oil cuts
Gross domestic product shrunk 4.5% in the third quarter compared to a year earlier, driven by a 17% drop in the oil economy
 "Saudi Arabia's economy suffers biggest contraction since 2020 on oil cuts")
Oil prices edge higher as Saudi Arabia cut outweighs bearish backdrop
The unexpected build in fuel inventories raised concerns over consumption by the world's top oil user, especially as travel demand grew during the Memorial Day weekend
 "Oil prices edge higher as Saudi Arabia cut outweighs bearish backdrop")
Oil firms collectively cut the value of their assets by nearly $50 bn in Q2
London-based BP has previously said it plans to cut its overall output by roughly 1 million barrels of oil equivalent (boepd) by the end of 2030 from its current 3.6 million boepd
 "Oil firms collectively cut the value of their assets by nearly $50 bn in Q2")
Amid falling global prices, US and Mexico agree to cut crude oil output
The OPEC nations have agreed to "a different limit reduction of about 23 per cent", said US President Donald Trump
 "Amid falling global prices, US and Mexico agree to cut crude oil output")
Putin says Russia and Saudi Arabia will maintain oil cuts for 6-9 months
The current version of the deal by the so-called Opec+ coalition calls for production cuts of 1.2 million barrels a day
 "Putin says Russia and Saudi Arabia will maintain oil cuts for 6-9 months")
Here's why Opec's global oil cuts might result in sharp price spikes
The group's spare capacity has ballooned to about 3.4 million barrels a day, as of November, compared with about 2 million a day at the outset of the production curbs
 "Here's why Opec's global oil cuts might result in sharp price spikes")
