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    Saudi Arabia to extend oil voluntary cut until end of 2024


    Jun 4, 2023

    RIYADH — Saudi Arabia will extend its voluntary cut of 500,000 barrels per day until the end of December 2024 as a precautionary measure, an official source in the Ministry of Energy announced on Sunday.

    The official source said that the decision comes in coordination with some countries participating in the OPEC+ agreement.

    This voluntary reduction from the required production level as agreed upon at the 35th ministerial meeting of OPEC Plus on June 4, 2023, the ministry said. \begingroup SG

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