The White House and crude traders both had shrug-emoji responses to Saudi Arabia's oil production cut. Catch up fast: A contentious weekend OPEC+ meeting brought Saudi plans to slash output by 1 million barrels per day next month — and possibly longer. In addition, the wider group will extend its 2023 output limits through 2024. State of play: Oil prices briefly jumped on the news before paring gains. Early this morning, Brent crude prices were trading below Friday's close (as of late morning they're slightly above). Meanwhile the White House — which was furious at cuts last fall — did not criticize the move. ... (full story)