KPLC | Abu Dhabi summit: Oil production cuts may be necessary KPLC ABU DHABI, United Arab Emirates (AP) — OPEC and allied oil-producing countries will likely need to cut crude supplies to rebalance the market after proposed U.S. sanctions on Iran failed to cut Tehran's output, the top Saudi and Emirati energy ... Oil prices jump 2 percent after Saudi Arabia announces December supply cut Oil jumps as Saudi Arabia opens door to production cut Oil price rises as Saudi Arabia pledges supply cut - business live |