The SPA state news agency cited an official source at the ministry of energy as saying the cut can be ‘extended, or extended and deepened’
Saudi Arabia will extend a voluntary oil output cut of one million barrels per day for another month to include September, the state news agency SPA said on Thursday.
The kingdom’s production for September will be approximately 9 million barrels per day , the source said. At its last policy meeting in June, OPEC+ agreed on a broad deal to limit supply into 2024, and Saudi Arabia pledged a voluntary production cut for July that it has since extended to include August.
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