OPEC cuts production by nearly 800,000 barrels a day in January

OPEC fell just short of its production goal in January, as a fresh round of output cuts from the 14-nation producer group got under way.

The slight miss comes as the group once again cut its outlook for global oil demand in 2019. Meanwhile, OPEC slightly increased its forecast for supply from the United States and other non-OPEC nations.

OPEC is partnering with 10 non-member nations, including Russia, to keep 1.2 million bpd off the market.
more detail at source: https://www.cnbc.com/2019/02/12/opec-slashes-oil-output-in-january-pumps-just-above-oil-target.html

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