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By Giulia Petroni
Saudi Arabia will extend its voluntary oil output cut of one million barrels a day for another month, the Saudi Press Agency said on Thursday, citing an official source from the Kingdom’s Ministry of Energy.
The output reduction, which started in July and was then also implemented in August, will now include September and could be extended even further, according to the agency. Arabia’s production for September will be approximately 9 million barrels a day.
“This additional voluntary cut comes to reinforce the precautionary efforts made by OPEC Plus countries with the aim of supporting the stability and balance of oil markets,” the SPA said.
Write to Giulia Petroni at [email protected]
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