Saudi Arabia has said it will cut oil output by at least 486,000 barrels per day (bpd) as it implements OPEC’s agreement to reduce output. According to a source, the Saudi Aramco has started talks with customers around the world on possible cuts of 3% to 7% from next month. Source Energy Voice
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Sen. Bob Corker (R-Tenn.) said he excepts to see the text of the Senate bill to repeal and replace ObamaCare on Thursday as Senate Republicans eye a vote on the legislation next week. “I am going to vote for this bill or vote against this bill determined based on how it affects people in Tennessee and actually how it affects our nation. And my understanding is I’m going to see it on Thursday,” Corker told MSNBC. Source The Hill
The U.S. current account deficit widened slightly in the first quarter, as the country imported more crude oil, car parts and supplies for its factories. The current account deficit for the fourth quarter was revised up to $114.0 billion from the previously reported $112.4 billion. Source Reuters
Egyptian jets bombed a gathering site of Sinai-based Islamist militants, killing 12 and destroying several four-wheel-drive vehicles, the military said on Tuesday. Source Reuters