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2016.12.0903:18:00UTC+00Saudi Arabia informs clients of output cuts following OPEC pact

Saudi Arabia has advised its clients of reductions to their January oil production as part of its compliance to the recent OPEC deal.

Based on a PIRA note released Thursday, the cuts will be implemented in various degrees but it is possibly to be bigger to North America because of lower margins.

Last week, for the first time since 2008, OPEC member countries agreed to slash its crude output. The kingdom took the largest chunk of the reduction.

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