06 Nov, 23

Saudi Arabia And Russia Will Stick To Oil Production And Export Cuts

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Saudi Arabia and Russia have confirmed they will extend their voluntary production and export cuts until the end of the year in a largely expected move to keep a lid on a solid portion of global supply. “This additional voluntary cut comes to reinforce the precautionary efforts made by OPEC+ countries with the aim of supporting the stability and balance of oil markets,” Reuters quoted a statement from the Saudi energy ministry as saying. Saudi Arabia has been producing around 9 million barrels daily, effecting a voluntary reduction of some…

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