The Organization of the Petroleum Exporting Countries (OPEC) decreased its oil production to 29.55 million barrels per day in November, thus increasing its overcompliance with the OPEC+ oil production cuts deal to 46 percent from October's 23 percent, mostly due to Saudi Arabia and Angola, according to the organization's Monthly Oil Report, released on Wednesday

The United States is expected to have its first year as a net oil exporter in 2020, the US Energy Information Administration (EIA) said in a monthly outlook published Tuesday

Leaders of the Gulf Cooperation Council (GCC) agreed during the Tuesday summit in Riyadh to create a financial and monetary union by 2025, the final statement adopted following the summit said