Global oil production slashed as top countries unite in unprecedented cut

Unexpected move comes ahead of Monday ministerial meeting
Total OPEC+ cut pledges now stand at 3.66 million bpd
Oil could jump $10 a barrel – analyst

DUBAI, April 2 (Reuters) – Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day, in a surprise move that analysts said would cause an immediate rise in prices and the United States called inadvisable.

Reporting by Maha El Dahan, Ahmed Rasheed, Dmitry Zhdannikov and Adam Makary, additional reporting by Alex Lawler, Ahmad Ghaddar and Gary McWilliams, writing by Alex Lawler, Editing by Hugh Lawson, Sharon Singleton and Philippa Fletcher

www.reuters.com/business/energy/sarabia-other-opec-producers-announce-voluntary-oil-output-cuts-2023-04-02/

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OPEC+ Makes Surprise 1 Million-Barrel Oil Production Cut t.co/umRx262QNd

— zerohedge (@zerohedge) April 2, 2023

BREAKING: Saudi Arabia will cut oil production by 500,000 barrels a day from May to December in coordination with some other OPEC and non-OPEC countries t.co/nqcXB5MYOm

— Bloomberg (@business) April 2, 2023

h/t Wega58

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