OPEC, for some quiet moments..

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Ratings agency Fitch on Wednesday downgraded Saudi Arabia’s credit rating by one notch on concerns that the oil-exporter will struggle to fully implement its ambitious economic measures to wean the country off its oil dependence. Fitch lowered the kingdom’s long-term foreign and local currency ratings to A+ from AA- with a stable outlook. It noted the “continued deterioration of public and external balance sheets” as a reason

Fitch Cuts Saudi Arabia’s Credit Rating - WSJ

Geopolitical rivals Saudi Arabia and Iran may be headed for another OPEC showdown, as the producer group enters negotiations over extending oil production cuts in force since January. Saudi Arabia may demand that Iran, which is allowed a slight rise in output under the deal, commit to an output reduction as a condition of continuing the cuts, people familiar with the kingdom's thinking told S&P Global Platts.

Saudi Arabia may insist on Iran oil output cuts to continue OPEC deal: sources - Oil | Platts News Article & Story

OPEC and allies reviewing the impact of their oil cuts this weekend face a market with an unambiguous message: their work is far from done. As producers meet in Kuwait to gauge how well they’ve implemented output cuts agreed on last year, talks will be overshadowed by the question of whether the persisting glut requires the curbs to be extended beyond the summer. With U.S. crude stockpiles swelling to record levels and prices sinking below $50 a barrel, OPEC and its partners have little choice but to keep going, according to all 13 analysts surveyed by Bloomberg.

OPEC, Allies Meet as Oil Market Warns Them: Job's Not Done - Bloomberg

Libya's oil production has reached 700,000 barrels per day (bpd), the National Oil Corporation (NOC) said on Wednesday, recovering from a drop earlier this month caused by fighting at two key oil ports. "We are working very hard to reach 800,000 barrels by the end of April 2017, and, God willing, we will reach 1.1 million barrels next August," NOC Chairman Mustafa Sanalla was quoted as saying in a statement.

Libyan oil output rises to 700,000 barrels per day after port fighting ends: NOC | Reuters