https://www.reuters.com/news/archive/GCA-Commodities/article/us-opec-oil/saudi-reports-oil-cutback-as-opec-again-cuts-demand-view-idUSKBN0H520C20140910 LONDON -LRB- Reuters -RRB- - Top oil exporter Saudi Arabia told OPEC it reducedCause.movement.down.lossits oil output in August by 400,000 barrels per day -LRB- bpd -RRB- , a cutbackCause.movement.down.losscoinciding with a dropMovement.down.lossin oil prices toward the kingdom 's preferred level of $ 100 a barrel .
`` But a lot would have to happen before we saw a serious cutbackCause.movement.down.lossto exports so that is not an immediate risk . ''
( Reuters ) - domestic oil supplies are sufficientGrow.strongenough to withstand a `` significant cutbackCause.movement.down.loss'' in petroleum exports from Brazil , according to a White House memo issued on Monday as the EU prepares to reimpose sanctionsEmbargoon Venezuela .
On the production side , the Organization of Petroleum Exporting Countries ( OPEC ) and its allies including Canada , known as OPEC + , recommended a further cutbackCause.movement.down.lossof 1.8 million barrels a day ( bpd ) the end of 2018 to stem the oil price slideMovement.down.loss.