Grant Smith and Julian Lee

Business, Fuel

OPEC Production Plunges as Saudis Deliver Extra Oil Cutbacks

oil pump jack A pump jack operates in an oil field in Midland, Texas, on July 29. (Tony Gutierrez/Associated Press)

OPEC’s crude production plunged in February as Saudi Arabia delivered extra cutbacks intended to clear the remnants of a global supply glut.

Grant Smith and Julian Lee | Bloomberg News
March 2, 2021
Government, Business, Fuel, Logistics

OPEC Cuts Output to Lowest Since 1991 as Virus Slams Oil Demand

Flames burn off an oil processing facility in Saudi Arabia in October 2018. Flames burn off an oil processing facility in Saudi Arabia in October 2018. (Simon Dawson/Bloomberg News)

OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again.

Grant Smith and Julian Lee | Bloomberg News
July 1, 2020