Futures Movers: U.S. oil prices edge up from 17-month lows as Saudis indicate deeper production cut [MarketWatch]
CME Group Inc. - Class A (CME)
Last cme group inc. - class a earnings: 4/29 07:00 am
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Source: MarketWatch
U.S. oil prices edge up from 17-month lows as Saudis indicate deeper production cut Oil made modest moves on Friday, with U.S. prices edging higher but holding near the fresh 17-month lows plumbed at the end of Thursday’s session and poised to settle with a weekly loss of more than 10%. The oil market found some support from a report Saudi Arabia will cut more oil than first announced as part of an OPEC-led agreement. Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries, plans to limit its output beginning early next year by more than it had initially committed to earlier this month, according to documents reviewed by The Wall Street Journal and reported Thursday . OPEC and some nonmember oil producers agreed in early December to collectively cut production by a total of 1.2 million barrels a day from October levels at the start of the new year, in response to a 30% price plunge from roughly four-year highs. For its part, the Saudis now plan to cu
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