Saudi Arabia will extend a voluntary oil output cut of one million barrels per day for another month to include September, the state news agency SPA said on Thursday.
The agency cited an official source at the ministry of energy as saying the cut can be “extended, or extended and deepened”.
The kingdom’s production for September will be approximately 9 million barrels per day (bpd), the source said.
“This additional voluntary cut comes to reinforce the precautionary efforts made by OPEC+ countries with the aim of supporting the stability and balance of oil markets,” the agency quoted the source as saying.
