Saudi Arabia to ship less oil to world markets in December as it considers a coordinated output cut - Firstpost

Now Saudi Arabia wants to act to prevent a further slide in prices and is leading discussions on cutting oil output next year, sources said.

A lowdown on top macro triggers that may move market on Monday.

Oil prices rose by about one percent on Monday after top exporter Saudi Arabia announced a cut in supply for December, seen as a measure to halt a market slump that had seen crude decline by 20 percent since early October.

ENERGY To prop up oil prices, producers begin to weigh cuts Major oil producers meeting in Abu Dhabi, United Arab Emirates, on Sunday signaled that they were considering once again changing course and cutting production. But the group, which included the Saudi oil minister, Khalid al-Falih, and his Russian counterpart, Alexander Novak, did not make any firm decisions.

Saudi Arabia to Cut Oil Exports Amid Signs of New Surplus

OPEC, Non-Cartel Partners Suggest Production Cuts To Come

OPEC and other large oil producers, including Russia, are suggesting they could cut supplies next year due to a predicted glut of oil on world markets.

Among those attending were Russian Energy Minister Alexander Novak, Oman's Oil Minister Mohammed al-Rumhi and the energy minister of host UAE Suheil al-Mazroue.