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News Link • Oil

Crude Crashes As Saudi Abandons OPEC Production Curbs

• by Tyler Durdan

Saudi output in October was 10.63m b/d, according to data published in OPEC's monthly market report; compares with 10.502m b/d in September.

As a reminder, as part of OPEC+ supply cuts, Saudi Arabia agreed to curb production by 486k b/d below the starting point of 10.544m b/d, which was its October 2016 output.

WTI Crude is crashing over 5% on the news as supply glut fears are resurgent (amid global growth fears stoke demand anxiety)...

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