Major oil producers including Saudi Arabia and the UAE announced a surprise production cut of more than one million barrels per day on Sunday
production cut
Latest in production cut
Crude
Oil falls below $58 as rig count counters OPEC curbs extension
OPEC and its allies including Russia agreed to keep the 1.8 million barrels a day of supply cuts in place
Crown Prince Mohammed bin Salman
Oil trades near 2-year high as Saudi upheaval spurs risk premium
Oil has gained more than 20 percent since the beginning of September on signs global supplies are tightening
Crown Prince Mohammed bin Salman
Saudi Arabia backs extension of OPEC production cuts
Crown Prince affirms support for agreement as OPEC readies to meet next month
Essam al-Marzouk
Oil producers may not need to extend cuts: Kuwait
OPEC and non-OPEC producers struck a historic deal a year ago to cut crude output