Deeper oil cuts are still on the table for Saudi Arabia

Reuters/Fahad Shadeed OPEC and its non-OPEC partners have not closed the door to the possibility of extending the production cut agreement or even lowering production levels, Saudi Oil Minister Khalid al-FalihtoldSaudi-owned newspaper Asharq Al-Awsat in remarks published on Friday. Al-Falih’s comments were aired just a day after OPEC confirmed reports that its crude oil production increase last month, reporting a daily rate of32.869 million barrels, up by 172,600 bpd. Libya, Nigeria, and Saudi...