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Saudi Arabia says 10M-barrel-a-day cut starts OPEC+ deal

 A proposed reduction in oil production by OPEC and other oil-producing countries including Russia involves a 10 million barrels per day cut until July, then an 8 million barrels per day cut through the end of the year, Saudi Arabia said Friday as the deal hung in the balance. OPEC and...

Iraq names its third prime minister in 10 weeks

Iraq's president named intelligence chief Mustafa al-Kadhimi as prime minister-designate on Thursday, the third person tapped to lead the country in just 10 weeks as it struggles to replace a government that fell last year after months of deadly protests. Kadhimi was nominated by President...

Oil producers intend to cut 10-15 mn barrels: Kuwait

Top oil producers meeting later Thursday intend to cut production by between 10 and 15 million barrels per day, Kuwait's Oil Minister Khaled al-Fadhel reportedly said. The talks between OPEC and other major producers come as oil languishes at near-two decade lows, with Russia and Saudi...