OPEC Edges Closer to Production Cut as Saudis Signal Intent

ABU DHABI—Plummeting oil prices and signs of a coming global oversupply are bringing producers closer to a pact to cut output. Saudi representatives said Sunday that the kingdom would slash its exports unilaterally next month, as a broader OPEC alliance debated—but didn’t agree to—a collective production cut. Meanwhile, Russia, the world’s…

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