Russia has reportedly agreed to cut 200,000 bpd, clearing a hurdle for OPEC to agree to specific reductions.
OPEC source says Iran has agreed to OPEC deal: RTRS
OPEC source says OPEC to cut around 800 kbpd- RTRS
The Saudis have been leading calls for the group to trim output, amid surging supply and fears that an economic slowdown will erode fuel demand. The oil-rich kingdom has previously indicated it wants the group to curb output by at least 1.3 million barrels per day (bpd).
Gold Silver Reports (GSR) – Ukraine’s president announced a partial call-up of reservists for training amid tensions with Russia, saying Monday that the country needs to beef up its defenses to counter the threat of a Russian invasion.
Gold Silver Reports (GSR) – Citing Chinese media, “no additional tariffs will be imposed after January 1, and negotiations between the two sides will continue,” the report said, according to state television’s English-language service. It gave no further details.
“George H. W. Bush was a man of the highest character and the best dad a son or daughter could ask for,” former President George W. Bush said in a statement announcing his father’s death. “The entire Bush family is deeply grateful for 41’s life and love, for the compassion of those who have cared and prayed for Dad, and for the condolences of our friends and fellow citizens.”
Crude Oil prices getting lower. Great! Like a big Tax Cut for America and the World. Enjoy! $54, was just $82. Thank you to Saudi Arabia, …
Scott Darling, head of Asia-Pacific oil and gas at JP Morgan told CNBC that the investment bank recently revised its outlook in part due to North American supply ramping up in the second half of next year. JP Morgan expects the price of Brent, the international benchmark for oil, to go toward $64 in 2020.