Alexander Novak, Russia's energy minister, left, speaks as Khalid Al-Falih, Saudi Arabia's energy and industry minister, listens during a news conference following the 173rd Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Thursday, Nov. 30, 2017. Bloomberg | Bloomberg | Getty Images Six weeks after agreeing to slash production, major oil producers are finally giving investors some clarity on exactly how much crude they'll take off the market. OPEC on Friday released a table laying out production quotas for each of its 14 members and the 10 allied countries participating in the deal. The two dozen nations agreed last month to slash a combined 1.2 million barrels per day in order to prevent a repeat of the oil glut that caused crude prices to tank from 2014 to 2016. However, over the following weeks, international benchmark Brent crude prices fell another 18 percent. The continued slide reportedly prompted OPEC to urge oil producers to publicly release their production quotas to boost the market's confidence in the cuts. While oil prices have risen for the last three weeks, OPEC has nevertheless decided to publish the output levels under the deal, which runs through the first six months of 2019. The so-called OPEC+ alliance meets April 17-18 to assess the impact of the cuts. Here's how much each of the countries in the deal will endeavor to keep off the market:
Details of oil production quotas agreed with the 14 UAE members and 10 participating countries have been published in an effort to promote investor confidence as prices continue to slide. Saudi Arabia and Russia take the biggest hit, reducing output by 1.2 million barrels per day (bpd), respectively, as OPEC aims to cut a total of 141,000 bpd. Saudi Arabia is also on record to cut supplies by 141,000 bpd, and the UAE is to curb production by 10 bpd.