AB - oil output from the Organization of Petroleum Exporting Countries fell 530,000 barrels a day to 32.6 million a day last month. It’s the sharpest pullback since January 2017, when the group first embarked on its strategy to clear the glut created by rising supplies of US shale oil.

AN - “Based on available figures, we have around 26 million barrels of surplus ... compared to 340 million barrels in early 2017,” Al-Mazrouei told a press conference in Kuwait City.

OPEC - In 2019, world oil demand is anticipated to rise by 1.29 mb/d. As a result, total world oil demand is anticipated to reach 100.08 mb/d. Oil demand growth is projected to originate from Other Asia, led by India, followed China, then OECD Americas. OECD countries will rise by 0.25 mb/d, while non-OECD countries will drive oil demand growth by adding an estimated 1.04 mb/d in 2019.

SHANA - “OPEC resolution states that the Secretary-General and OPEC's President would allow countries that subject to certain sanctions to be exempted from production cuts,” Zangeneh added.

PLATTS - Russia will cut its liquids output by 50,000-60,000 b/d in January under the latest agreement with OPEC, energy minister Alexander Novak said Tuesday. "The monthly schedule for the output cut has already been [set]... We expect output will be cut by at least 50,000 b/d-60,000 b/d in January," he said, as reported by Prime news agency.

WSJ - Russia and Saudi Arabia have agreed to extend OPEC’s efforts to stabilize oil markets, Russian President Vladimir Putin said over the weekend, as the broader coalition of producers inches closer to a deal this week.

REUTERS - “Qatar has decided to withdraw its membership from OPEC effective January 2019 and this decision was communicated to OPEC this morning,” the minister said.

PLATTS - "It is obvious that we need to cooperate with Saudi Arabia, and we are going to cooperate with Saudi Arabia. OPEC plus has been very positive, and we see that in the market situation," Putin told reporters in Singapore during a briefing broadcast on Russia 24.

OPEC - In 2018, oil demand growth is anticipated to increase by 1.50 mb/d y-o-y, a downward revision from the previous month of 40 tb/d, mainly due to weaker-than-expected oil demand data from the Middle East and, to a lesser extent, China during 3Q18. Expected total oil demand for the year is anticipated to reach 98.79 mb/d. In 2019, world oil demand growth is forecast to grow by 1.29 mb/d y-o-y, about 70 tb/d lower than last month’s projection, with total world consumption to reach 100.08 mb/d.

CNBC - Saudi Arabia, OPEC's biggest producer and the world's top crude exporter, intends to cut shipments by 500,000 barrels a day in December, Khalid al Falih, the country's energy minister said on Sunday. Russian Energy Minister Alexander Novak said on Sunday he wasn't convinced the oil market would be oversupplied in 2019. Russia is the world's second biggest oil producer after the United States and, along with Saudi Arabia, plays an influential role in the oil alliance.