The 3 OPEC Countries Considering Deeper Output Cuts

Saudi Arabia and its Gulf Arab neighbors and large fellow OPEC producers the United Arab Emirates (UAE) and Kuwait are discussing this week a potential joint oil production cut of 300,000 bpd in response to the depressed demand amid the coronavirus outbreak, taking a break from the OPEC+ alliance with Russia, The Wall Street Journal reported on Friday, quoting people with knowledge of the issue. Saudi Arabia, the UAE, and Kuwait are the largest, third-largest and fourth-largest producers in the cartel, respectively, and they hold together more…