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Saudi Arabia, the de facto head of OPEC, has boasted of its lead position among member states cutting production. (Shutterstock)

March 15th, 2017 - 09:00 GMT

OPEC production cut: Is output creeping up?

Secondary sources have reported to OPEC that states excluded from the production cut deal have raised output by more than 80,000 barrels a day.

Sources in OPEC said the group would reduce output to 32.5 million barrels per day from current production of 33.24 million bpd, according to Reuters. (File photo)

September 29th, 2016 - 06:13 GMT

OPEC reaches consensus on cutting output

Al Bawaba

January 12th, 2015 - 03:02 GMT

Saudi Arabia and UAE can last a while: why there isn't really an end in sight to the oil price plunge

The market was also supported by hopes that the United States Federal Reserve would step in with new stimulus measures to bolster the world's largest economy, traders said

June 17th, 2012 - 07:34 GMT

Crude oil prices rise after OPEC holds output target