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Saudi Arabia to continue voluntary cuts of oil production by year-end — news agency

The country plans to hold the next review of the measure and consider an opportunity of increasing or reducing oil production next month

MOSCOW, October 4. /TASS/. Saudi Arabia made the decision to continue implementing measures of voluntary oil production cuts by one million barrels daily until the end of 2023, the Saudi Press Agency said, citing an official sources in the Energy Ministry of the Kingdom.

"An official source from the Ministry of Energy announced that the Kingdom of Saudi Arabia will continue its voluntary cut of one million barrels per day, which has gone into implementation in July 2023 and was later extended until the end of December 2023," the news agency said.

The country plans to hold the next review of the measure and consider an opportunity of increasing or reducing oil production next month.