Saudi Arabia Will Extend July Oil Production Cut Until August
Saudi Arabia will extend July’s voluntary cut in oil production by 1 million barrels per day to August, according to the Saudi news agency SPA, citing a source in the kingdom’s energy ministry.
An official energy ministry source announced that the Kingdom of Saudi Arabia will extend the voluntary 1 million bpd cut that went into effect in July by another month to include August, the agency wrote, noting that the cut could be extended.
The report also says that the kingdom’s production in August will be approximately 9 million barrels per day.
