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Oil Jumps After Saudi Arabia, Russia Announce Extension Of Export Cuts

Posted on AllSides July 3rd, 2023
From The Right

Oil Jumps After Saudi Arabia, Russia Announce Extension Of Export Cuts Early this morning, Saudi Arabia announced it will extend its voluntary, unilateral oil production cut by one month, at least through August (the output cut can and likely will be extended further), keeping a ceiling on supply even as the market is expected to tighten further. Moments later, its OPEC+ ally Russia announced it will "voluntarily" extend a reduction of its oil exports in August by 500K bbl/day to ensure the oil market remains balanced, Deputy Prime Minister Alexander...

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https://zerohedge.com/markets/oil-jumps-after-saudi-arabia-russia-announce-extension-oil-export-curbs

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