Saudis to extend crude oil cuts

Oil Pumps Anton Petrus | Moment | Getty Images

Revelations 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”

Important Takeaways:

  • Saudi Arabia to extend voluntary 1 million barrel per day crude oil production cut into September
  • Heavyweight oil producer Saudi Arabia will extend a 1 million barrel per day voluntary crude output cut into September, in the third month of such declines, the state-owned Saudi Press Agency said Thursday.
  • “In effect, the Kingdom’s production for the month of September 2023 will be approximately 9 million barrels per day,” it said, citing a source from the Saudi Ministry of Energy.
  • The 1 million barrel per day cut, which was also implemented in July and August, “can be extended or extended and deepened,” SPA said.

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