US oil companies are cutting production much faster than expected ...United Arab Emirates

Russia Today - Economy
US oil companies are cutting production much faster than expected
source : Russia Today ( United Arab Emirates ) () 72
The United States is on track to cut 1.7 million barrels of oil production per day, according to Reuters calculations of state and company data shared on Thursday. It was US President Donald Trump that suggested at the beginning of April, prior to the most recent OPEC deal signing that the United States would cut its oil output as a natural response to the worsening market conditions. The statement was not initially good enough for OPEC, who wanted more of a commitment from the world’s largest producer and consumer of crude oil. “Well, I think it’s automatic. Because they’re already cutting. I mean, if you look, they’re cutting back. B

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