Investing.com investing.com 06 Jan, 2021 07:30 am

Oil hits 11-month high after Saudi Arabia pledges voluntary output cut By Reuters

Oil hits 11-month high after Saudi Arabia pledges voluntary output cut By Reuters
Oil hits 11-month high after Saudi Arabia pledges voluntary output cut

FILE PHOTO: Oil pump jacks work at sunset near Midland TOKYO (Reuters) - Oil prices rose on Wednesday to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected in a meeting with allied producers, while industry figures showed U.Saudi Arabia, the world's biggest oil exporter, agreed on Tuesday to make additional, voluntary oil output cuts of 1 million barrels per day (bpd) in February and March, after a meeting with the Organization of the Petroleum Exporting Countries (OPEC) and other major producers that form the group known as OPEC+.The reductions agreed by Saudi Arabia were included in a deal to persuade other producers in the OPEC+ group to hold output steady.[EIA/S] [API/S] Trump administration readies oil bidding in Alaska wildlife refuge p By Nichola Groom and Yereth Rosen (Reuters) - The Trump administration on Wednesday will open bidding on drilling leases in a pristine Arctic wildlife refuge in Alaska despite.

judge denies effort to stop drilling auction in Arctic refuge p (Reuters) - A federal judge in Alaska ruled late on Tuesday that the Trump administration's planned auction of oil drilling leases in the Arctic National Wildlife Refuge (ANWR).7 million barrels in the week to Jan.

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