OPEC+ Agrees To A Small Production Cut

The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina  

CNBC: Oil producer group OPEC+ surprises energy markets with a small production cut 

* OPEC and non-OPEC partners, an influential energy alliance known as OPEC+, decided to cut production targets by about 100,000 barrels per day from October. 

* Energy analysts had broadly expected the group to stay the course with its production policy. 

* It comes amid a bitter energy dispute between Russia and the West, with many in Europe deeply concerned about the prospect of recession and a winter gas shortage. 

A group of some of the world’s most powerful oil producers on Monday agreed on a small output cut from next month, surprising energy markets at a time of considerable turmoil. 

OPEC and non-OPEC partners, an influential energy alliance known as OPEC+, decided to cut production targets by about 100,000 barrels per day from October. Energy analysts had broadly expected the group to stay the course with its production policy. 

Read more ....  

WNU Editor: I expected a bigger production cut. 

OPEC+ Agrees To A Small Production Cut  

OPEC+ makes small trim to world oil supplies as prices fall -- AP  

Oil prices jump more than 3% as OPEC+ agrees small oil output cut -- Reuters 

OPEC agrees to cut production after oil price slump -- CNN  

OPEC Plus Agrees to Cut Production by 100,000 Barrels a Day -- New York Times  

OPEC+ to Discuss Potential Supply Cut Amid Oil Demand Concerns -- Bloomberg  

OPEC+ countries decide to cut oil production in October by 100,000 bpd — communique -- TASS