Oil mixed as demand worries offset gains from output cut deal

Oil mixed as demand worries offset gains from output cut deal

, several other countries will reduce output as well, for an estimated total cut of about 19.5 million bpd.. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019.. The kingdom on Monday also set its May official selling prices (OSP) for crude, selling oil to Asia more cheaply and keeping prices flat for Europe while raising them for the United States.. Analysts cast doubts on producers' likely compliance with the production cuts, not least since Mexico got off with smaller cuts than initially demanded.. The United States, where antitrust legislation makes it hard to act in tandem with groups such as OPEC, has said that low prices mean its output would already fall by as much as 2 million bpd this year without planned cuts..