Major oil-producing countries announce voluntary 2.1M BPD(ish) reductions ...Middle East

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Major oil-producing countries announce voluntary 2.1M BPD(ish) reductions
The back of the envelope "voluntary cuts" in production/exports shows:Saudi Arabia: 1 million BPDRussia: 500,000 BPDIraq: 211,000 BPDUAE (United Arab Emirates): 160,000 BPDKuwait: 135,000 BPDKazakhstan: 82,000 BPDAlgeria: 51,000 BPDOman: 42,000 BPD That totals around 2.18M. Note this is voluntary. Meanwhile, Russian Deputy Prime Minister Novak has stated that the OPEC+ coalition's additional oil output cuts will exceed 2 million barrels per day, a move intended to address the anticipated lower demand during the winter season. He noted that current oil stockpiles in OECD countries are averaging below 100k BPD over the past five years. Novak affirmed that Russia is fully complying with its ob

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