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Saudi Arabia Reaffirms Commitment to Output Cuts

OIL

Saudi Arabia’s Council of Ministers today reaffirmed the Kingdom’s committed to strengthen the precautionary efforts of OPEC+ countries aimed at supporting the stability of oil markets, including the extension of the voluntary crude oil output cut of 1mbpd into September according to SPA.

  • Last week, Saudi Arabia extended its voluntary output cut into September, originally scheduled for July before it had been extended into August.

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