Saudi cabinet says it is extending voluntary oil cuts to boost market stability, SPA reports

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Saudi Arabia - along with Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia and the United Arab Emirates - extended voluntary cuts of 2.20 million bpd by three months to the end of September

Nayera Abdallah, Reuters News

June 4, 2024

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Saudi Arabia's cabinet on Tuesday welcomed the latest OPEC+ decisions, saying Saudi Arabia's decision with seven other countries to extend their voluntary oil cuts aimed to boost precautionary efforts to support oil market stability, the state news agency SPA reported.

Saudi Arabia - along with Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia and the United Arab Emirates - extended voluntary cuts of 2.20 million bpd by three months to the end of September.

(Reporting by Nayera Abdallah; Editing by Kevin Liffey)

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