Oil

Saudi Arabia and its allies are now considering cutting output by 1 million to 1.4 million barrels per day.

The increase in the volume of this export will take place in several stages.

The US is now pumping an unprecedented 11.6 million barrel per day (bpd) of oil.

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Japanese refiner Fuji Oil is set to resume Iranian crude purchases after Japan received one of those waivers.

OPEC and its allies are considering cutting oil output in 2019 as the group is increasingly concerned about the potential for oversupply.

Russian Energy Minister Plans to Sign OPEC Partnership Deal.

Reduced Saudi oil imports tend to reflect in lower weekly U.S. inventories.

US crude production reached another record last week. at 11.7 million barrels per day.

The Saudi tactic to send reduced volumes to the States succeeded last year.