Reuters | Oil holds near annual peaks, awaiting OPEC cuts Reuters 1. OPEC and non-OPEC producers are expected to lower production by almost 1.8 million barrels per day (bpd), with Saudi Arabia, OPEC's largest producer, agreeing to bear the lion's share of the cuts. Iraqi Oil Minister Jabar Ali al-Luaibi said on ... Crude oil climbs for fourth day for fresh 2016 high China could derail OPEC's effort to balance oil markets this year, says analyst Oil Caps Longest Winning Streak Since August Ahead of OPEC Cuts |