oil supplies look to tighten from next month, after saudi arabia and other opec plus oil producers announce output cuts of about 1.1 million barrels a day. saudi arabia said the move was aimed at stabilising the market. well, oil prices are currently trading higher, after the move by 0pec+. this is the second time the cartel slashed productions. the group last did so in october, cutting output by two million barrels per day. jonathan robinson is global power & energy research director at frost and sullivan. this move by saudi was something of a surprise. the us publicly ruled out new crude purchases to replenish its own strategic stockpile. how much of a collision course does it put ridadh on with america? it is interesting because russia had cut its production separately in march so it suggests a bit of co ordination between russia and saudi arabia and clearly they want to put a floor under the price of oil and see it recovering to the side of $90 a barrel, where it has been
talks broke down last week, before the heathrow strike, was because heathrow say they are determined not to be, as it were, and i am using a term that would not agree with, but effectively be held to ransom by small groups of workers. obviously aviation is an incredibly complex operation that requires all kinds of different groups of workers and the idea is if you say, ok, we will give in to you than everyone else will want some more at a time, says heathrow, when it has lost billions of dollars as a result of the pandemic. i m afraid aviation always subject to all kinds of forces and yes, the passport strike, members of the pcs union working for the passport office in uk, eight issuing centres across england, scotland, ireland, walking out