OPEC reports drop in January oil output, big Saudi cut

OPEC delivered more than 90 percent of pledged oil output curbs in January, based on figures the exporter group published on Monday, implying a supply glut that has weighed on prices could fall to zero this year. The Organization of the Petroleum Exporting Countries has agreed to cut its crude output by about 1.2 million barrels per day (bpd) from Jan. 1. Supply from the 11 OPEC members with production targets under the deal fell to 29.888 million bpd in January, according to figures from second