Saudi extends oil cut of 1 mn barrels per day
Saudi Arabia, home to Islam’s holiest sites in Mecca and Medina.
Riyadh – Saudi Arabia announced on Monday it was extending a voluntary oil production cut of one million barrels per day, in a bid to prop up slumping prices.
The cut which first took effect for July will continue in August and “can be extended”, the official Saudi Press Agency reported, citing an energy ministry source.