Saudi Arabia announces further oil cut of 1 million barrels per day

5 June 2023
2023-06-05 10:58

Riyadh announces it will slash oil output by a further one million barrels per day in a bid to prop up prices, despite fears of a recession.

The cut is for July but "is also extendable", Saudi Energy Minister Prince Abdulaziz bin Salman tells reporters during a press conference following a meeting of OPEC+ major oil producers in Vienna.

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