Saudis take on burden of oil output cut to support price

FRANKFURT, Germany (AP) — Saudi Arabia said Tuesday it will cut its oil production by 1 million barrels a day, taking on the burden of supporting prices in the energy market as a “goodwill gesture" after a meeting with other crude-producing countries. The decision came after a meeting between...

OPEC, allies adjourn meeting over oil production levels

FRANKFURT, Germany (AP) — Members of the OPEC oil cartel and allied countries including Russia on Monday adjourned a meeting weighing whether to increase production further next month as the pandemic continues to sap demand for energy and create uncertainty about when recovery might come. The oil...

OPEC talks on production hit snag as pandemic clouds outlook

FRANKFURT, Germany (AP) — The OPEC oil producers' cartel was to push ahead with a new round of discussions Tuesday about how much to pump next year as countries wrestled over whether to extend the production cuts that have been supporting prices depressed by the pandemic. Members adjourned a...

OPEC talks on oil production to go into second day

FRANKFURT, Germany (AP) — Leaders of the OPEC oil cartel adjourned their virtual meeting Monday on future production as no agreement was announced on whether to extend output cuts into next year. The OPEC nations, led by Saudi Arabia, will reconvene Tuesday, according to a short statement from the cartel's...