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Saudi Arabia to make 1m bpd production cut, others to extend cuts through 2024

OPEC+ wants higher oil prices.Saudi Arabia will make a further voluntary oil production cut while others -- including Russia -- will continue with voluntary cuts through 2024, rather than the current plan to reevaluate at the end of 2023.Starting in July, Saudi Arabia will cut production by 1 million barrels per day. That's currently just for one month, but Saudis energy minister said it could be extended (likely based on where prices are).For other OPEC members, baselines have been be adjusted... Read More

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Posted: Jun 4 2023, 16:58

Author Name: forexlive

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