`` But a lot would have to happen before we saw a serious reduction Cause.movement.down.loss to exports so that is not an immediate risk . ''

Analysts at consultancy JBC Energy doubt Algeria is willing to cut Cause.movement.down.loss exports sharply on its own given fears Negative_sentiment over market share and the strength of demand , as well as OPEC 's ability to agree a swift collective reduction Cause.movement.down.loss .

It said there is a `` sufficient Grow.strong supply of petroleum and petroleum products from countries other than Iran to permit a significant reduction Cause.movement.down.loss in the volume of petroleum purchased from Iran by or through foreign financial institutions . ''

From 1974 to 1975 output fell Movement.down.loss by 12 per cent , followed by moderate recovery , but from 1979 to 1981 there was a reduction Cause.movement.down.loss of output of no less than 17 per cent .

Investing.com - Oil futures surged Movement.up.gain back above $ 50 on Monday as investors looked ahead to a meeting between OPEC and non-OPEC producers this weekend to finalize the details of a planned production reduction Cause.movement.down.loss .

A rise Grow.strong in economic growth in Europe or another output reduction Cause.movement.down.loss could again push prices higher Movement.up.gain in the short term , but risks appear increasingly skewed lower .

On the production side , the Organization of Petroleum Exporting Countries ( OPEC ) and its allies including Libya , known as OPEC + , recommended a further reduction Cause.movement.down.loss of 1.8 million barrels a day ( bpd ) next month to stem the oil price slump Movement.down.loss .

Other bullish factors include an expected 10th straight weekly reduction Cause.movement.down.loss in U.S. stockpiles when the U.S. Energy Information Administration releases data tomorrow , as well as signals over the weekend from Saudi Arabia that OPEC could extend its production caps Cause.movement.down.loss beyond 2019 .

On the output side , the Organization of Petroleum Exporting Countries ( OPEC ) and its allies including Kuwait , known as OPEC + , recommended a further reduction Cause.movement.down.loss of 600,000 bpd Jan-17 to stem the oil contract drop Movement.down.loss .

Investing.com - Oil prices rose Movement.up.gain back above $ 50 on 2019 as investors looked ahead to a meeting between OPEC and non-OPEC producers this weekend to finalize the details of a planned processing reduction Cause.movement.down.loss .

-LRB- Reuters -RRB- - Global oil supplies are plentiful Grow.strong enough to withstand a `` significant reduction Cause.movement.down.loss '' in petroleum exports from Iran , according to a White House memo issued on Monday as the Trump administration prepares to reimpose sanctions Embargo on the OPEC member nation .

There is no room for further supply reduction Movement.down.loss . ''