Here Are The Details From The OPEC Production Cut Deal

Update 5: as the meeting concludes, here are the details as they emerge one headline at a time:
AL-FALIH: OPEC HAS MADE A ‘VERY HEALTHY” AGREEMENT AL-FALIH: OPEC DEAL WILL START IN JAN AL-FALIH: SAUDI OIL OUTPUT LIMIT 10.058M B/D SAUDI ARABIA TO CUT 486K B/D FROM JAN, OPEC DOCUMENT SAYS IRAQ AGREED TO CUT OUTPUT BY 209K B/D, KUWAIT OIL MINISTER SAYS IRAQI MINISTER SAYS RUSSIA AGREED TO CUT OUTPUT BY 300,000 B/D IRAQ TO PRODUCE 4.351M B/D FROM JAN: OPEC DOCUMENT IRAQ OIL MINISTER CONFIRMS HIS COUNTRY WILL CUT OIL PRODUCTION IRAQ CUT WILL BE FROM OCT. SECONDARY SOURCES LEVEL: VENEZUELA KUWAIT WILL CUT OIL OUTPUT 130K B/D, OIL MINISTER SAYS SAUDI ARABIA: NON-OPEC TO CONTRIBUTE 600K BPD TO CUTS RUSSIA HAS OFFERED 300,000 B/D OIL CUT: QATAR LIBYA SEES NON-OPEC COUNTRIES COOPERATING IN OUTPUT DEAL NON-OPEC NATIONS HAVE GIVEN COMMITMENT TO PARTICIPATE IN DEAL IRAN TO CUT PRODUCTION BY 90K B/D FROM OCT. LEVEL: ZANGANEH IRAN OIL MINISTER: OPEC WILL CUT PRODUCTION TO 32.5 MLN BPD IRAN TO PRODUCE 3.797M B/D FROM JAN: OPEC DOCUMENT OPEC NEEDS COOPERATION WITH OTHER OIL PRODUCERS: U. A. E. MIN UAE SAYS OPEC NEEDS COOPERATION WITH `OTHERS’ NIGERIA IS EXEMPT FROM AGREEMENT TO CUT OUTPUT BY 1.2M B/D OPEC ESTABLISHED MONITORING COMMITTEE TO IMPLEMENT DEAL: SADA SECONDARY SOURCES WILL BE BASIS FOR MONITORING: QATAR OPEC’S NEW 32.5M B/D OUTPUT TARGET INCLUDES INDONESIA: SEC-GEN OPEC TO PUBLISH A TABLE WITH ALL INDVIDUAL COUNTRIES’ TARGETS OPEC TO MEET AGAIN ON MAY 25 2017, SAYS QATAR MINISTER, OPEC INTENDS TO EXTEND THE CUTS THEN BY ANOTHER 6 MONTHS RUSSIA TO MAKE STATEMENT ON OUPUT CUTS IN NEXT FEW HOURS: SADA RUSSIA WILL ANNOUNCE OIL-OUTPUT CUT OF 300K B/D: QATAR MINISTER Regarding the Russian production cut, the relevant question is whether this is an actual cut from historical levels, or a cut to the Russian proposed production schedule.

This post was published at Zero Hedge on Nov 30, 2016.

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