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Oil rises on Saudi plan to deepen output cuts from July

Upworthy Monday, 5 June 2023
[1/2] General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo LONDON, June 5 (Reuters) - Oil prices rose by more than $1 a barrel on Monday after top crude exporter Saudi Arabia pledged to cut production by a further 1…

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Video Credit: euronews (in English) - Published
News video: OPEC+: Riyadh to reduce oil output, others to extend previous cuts

OPEC+: Riyadh to reduce oil output, others to extend previous cuts 00:35

 In order to keep crude oil prices stable on the world market, the OPEC+ countries, including heavyweight Russia, have agreed to maintain previous production cuts through 2024, while Saudi Arabia cuts output by 1 million barrels per day.

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