OPEC March Oil Output Sinks On Saudi Cuts, Venezuela Blackouts

OPEC oil supply sank to a four-year low in March, a Reuters survey found, as top exporter Saudi Arabia over-delivered on the group’s supply cut pact while Venezuelan output posted a further drop due to sanctions and power outages.The 14-member Organization of the Petroleum Exporting Countries pumped 30.40 million barrels per day (bpd) last month, the survey showed on Monday, down 280,000 bpd from February and the lowest OPEC total since 2015, according to a Reuters survey. The survey suggests that Saudi Arabia and its Gulf allies are pressing ahead with even larger supply cuts than called for by OPEC’s latest deal, shrugging off pressure from U.S. President Donald Trump to increase supply. On Thursday, Trump again called for OPEC to pump more oil to lower prices.

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It’s all part of the great monopol and big deals from from every interested party in the story

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Saudi Aramco generated a net income of $111 billion last year. That's bigger than the latest full-year income of Amazon, Apple and Exxon combined, making it the most profitable company on earth.

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Just now, rainman said:

Saudi Aramco generated a net income of $111 billion last year. That's bigger than the latest full-year income of Amazon, Apple and Exxon combined, making it the most profitable company on earth.

That’s over $300M a day

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And yet the KSA is still uncivilized in so many ways. But sure let's celebrate the rich getting richer and let's be blind on on the violation of fundamental human rights...

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