Saudi Arabia extends cut of 1 million barrels of oil a day through Sept to boost flagging energy prices
Saudi cut of 1 million barrels per day, which began in July, comes as the other OPEC+ producers have agreed to extend earlier production cuts through next year
Published Date - 3 August 2023, 10:30 PM
Dubai: Saudi Arabia said Thursday it will extend its unilateral production cut of 1 million barrels of oil a day through the end of September in its effort to boost flagging energy prices.
The Saudi cut of 1 million barrels per day, which began in July, comes as the other OPEC+ producers have agreed to extend earlier production cuts through next year.
The kingdom announced the extension in a statement on the state-run Saudi Press Agency.
The move was widely expected by analysts.
Benchmark Brent crude traded Thursday over $80 a barrel.
