Saudi Arabia has reduced oil production to less than 10 million barrels a day, below its targeted level, and will consider renewing its pledge to cut crude output in six months. Total SA Chief Executive Officer said he expects that the decline in oil inventories will take two years. Source: Bloomberg
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The U.K. economy posted its worst performance in a year as the dominant services industry felt the impact of an intensifying squeeze on living standards. Source Bloomberg
The company supplied a record 178.3 Bcm to what it calls the Far Abroad (Europe plus Turkey, excluding members of the former Soviet Union), but reported sales volumes to those countries slipped 1.1% because of lower sales prices. Oil & Gaz 360
Poland has signed its first deal to purchase liquefied natural gas from a U.S. supplier, a step that will help the country’s efforts to cut its dependence on deliveries from Russia, officials said Thursday. Source ABC news