Saudi Arabia said Wednesday it will extend its voluntary oil production cut of one million barrels per day (bpd) starting November until the end of December 2023.
The kingdom's oil production in the coming months of November and December will be approximately nine million bpd, according to a statement released by the Ministry of Energy.
The ministry stated the decision comes "to reinforce the precautionary efforts made by OPEC+countries with the aim of supporting the stability and balance of oil markets."
