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#oil Production Cuts, Why?

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Major oil-producing nations, (Saudi Arabia and Russia)
. . . have struggled of late to bolster prices, as inventories piled up, and
. . . crimped the potential for demand. Prices dipped below
. . . $44 a barrel this month, their lowest level in more than a year.
They are trying to manage the markets,
. . . by promising to reduce production,
. . . they have pushed oil prices up to
. . . $50 a barrel, the highest level in about 3 weeks.

5-16-2017 Source: #Oil Production Cuts, Why?

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