DD Geopolitics

02 April 2023 17:54

🛢 On Sunday, Saudi Arabia and other members of the OPEC+ oil producers announced voluntary cuts to their oil production in an effort to support the stability of the oil market. According to state media, Saudi Arabia will be cutting its oil output by 500,000 barrels per day (bpd) from May until the end of 2023.

Russia's deputy prime minister also confirmed that Moscow will be extending its voluntary cut of 500,000 bpd until the end of 2023.