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Home / Saudi Arabia to cut oil output by 1 million barrels per day to boost slumping prices

Saudi Arabia to cut oil output by 1 million barrels per day to boost slumping prices

Posted on June 4, 2023June 4, 2023 by admin

Saudi Arabia said Sunday that it will reduce how much oil it sends to the global economy, taking a unilateral step to support the sagging cost of crude after two previous cuts to supply by major oil-producing countries in the OPEC+ alliance failed to push prices higher.
Source: ctv business
Saudi Arabia to cut oil output by 1 million barrels per day to boost slumping prices

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