Oil prices rose by more than $1 a barrel on Monday after top crude exporter Saudi Arabia pledged to cut production by a further 1 million barrels per day (bpd) from July to counter macroeconomic headwinds that have depressed markets. Brent crude futures were up $1.72, or 2.3 per cent, at $77.85 a…
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Oil rises on Saudi plan to deepen output cuts from July
Credit: Upworthy- Published on June 5, 2023
Video credit: euronews (in English)
Published on June 4, 2023 - 00:35
OPEC+: Riyadh to reduce oil output, others to extend previous cuts
In order to keep crude oil prices stable on the world market, the OPEC+ countries, including heavyweight Russia, have agreed to maintain previous production cuts through 2024, while Saudi Arabia cuts output by 1 million barrels per day.
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Oil prices up after Saudi Arabia announces more production cuts 00:45
Credit: Rumble - Published on June 5, 2023