Saudi energy minister says latest Riyadh-Moscow oil cuts showed unity with Russia

  • On Monday, Saudi Arabia said it would extend the 1-million-barrel-per-day production cut it had initially flagged for July into August.
  • Unlike alliance-wide OPEC+ policy decisions, voluntary production declines do not require unanimous approval and need not be implemented by all group members.
  • Some questions had surfaced over the extent to which Russia will be honoring its voluntary crude production decline pledges.

https://www.cnbc.com/2023/07/05/saudi-energy-minister-says-riyadh-moscow-oil-cuts-showed-unity-with-russia.html

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