Saudi Arabia, Russia to continue 1.3 mil b/d supply cuts to end 2023

Saudi Arabia and Russia have confirmed plans to continue combined 1.3 million b/d supply cuts until the end of 2023 and review the decisions monthly, officials said Oct. 4. The two biggest OPEC+ producers are maintaining their policy of major cuts, despite recent oil price increases and forecasts of a large supply shortfall in the fourth quarter. Saudi Arabia will…Saudi Arabia and Russia have confirmed plans to continue combined 1.3 million b/d supply cuts until the end of 2023 and review the decisions monthly, officials said Oct. 4. The two biggest OPEC+ producers are maintaining their policy of major cuts, despite recent oil price increases and forecasts of a large supply shortfall in the fourth quarter. Saudi Arabia will…  Read More