The Wall Street Journal: Saudis to reduce oil output, as OPEC still debates production cuts

ABU DHABI — Plummeting oil prices and signs of a coming global oversupply are bringing producers closer to a pact to cut output.

Saudi representatives said Sunday that the kingdom would slash its exports unilaterally next month, as a broader OPEC alliance debated — but didn’t agree to — a collective production cut.

Meanwhile, Russia, the world’s largest producer, sent mixed signals on whether it would pull back on supply — after moving in lockstep on such matters with OPEC for more than two years.

The Russians “keep you guessing,” said John Hall, chairman of U.K. consultancy Alfa Energy. “They like to be in charge.

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