OPEC trimmed estimates for supplies from outside the group in 2016 as the slump in prices takes its toll on the U.S. shale-oil industry. OPEC cut 2016 estimates for non-OPEC output by 110,000 barrels a day. Still, the group sees non-OPEC supply expanding slightly next year, while the IEA predicted a contraction. Source: Bloomberg
Exxon Mobil has evacuated all of its foreign staff from Iraq’s West Qurna 1 oilfield and is flying them out to Dubai, a senior Iraqi official and three other sources told Reuters on Saturday. Source: Reuters
The latest round of tax cuts and handouts announced by the Greek government mean that Europe’s most indebted state will probably miss an agreed target for a budget surplus excluding interest payments, the head of the euro-area’s crisis fund said. The shortfall will deteriorate further next year, Klaus Regling warned after a meeting of the bloc’s finance ministers in Brussels. Source: Bloomberg
A tanker carrying Iranian fuel oil in violation of U.S. sanctions has unloaded the cargo into storage tanks near the Chinese city of Zhoushan, according to ship tracking data on Refinitiv Eikon. Source: Reuters
