Oil output is diving – but what about the US?

The countries behind the agreement to reduce the oil output have so far been able to cut production by 1.5 million barrels per day. This happens while the number of active oil rigs in the US is on the rise, notes Global Risk Management.

by SØREN PICO

The oil producing nations which in late 2016 joined forces to scale back the oil production conclude that the announced reductions are happening faster than expected, reported several media on Sunday.

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