Oil prices fall as economic fears overshadow Saudi output cut
Tuesday, 6 June 2023 Oil prices tumbled more than $1 a barrel on Tuesday, after a strong rally in the previous session as worries about the global economic growth outweighed Saudi Arabia’s pledge to deepen output cuts. Brent crude futures were down $1.33, or 1.73 per cent, to $75.38 a barrel by 0923 GMT. U.S. West…
Saudi Arabia, an OPEC heavyweight, decided on Sunday to make a further cut in production in the hope of boosting slumping oil prices, against an economic backdrop overshadowed by the war in Ukraine.
United States Secretary of State Antony Blinken has held talks with Crown Prince Mohammed bin Salman at the start of a diplomatic mission to Saudi Arabia. This is being reported as Washington’s..
Oil prices are up after Saudi Arabia, a key member of the Organization of the Petroleum Exporting Countries, announced more production cuts, which include reducing production by an additional 1 million..
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..
Credit: euronews (in English) Duration: 00:35Published
Tuesday, 6 June 2023
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![Oil prices up after Saudi Arabia announces more production cuts [Video]](https://video.newsserve.net/300/v/20230605/1685993566-Oil-prices-up-after-Saudi-Arabia-announces-more.jpg)
![OPEC+: Riyadh to reduce oil output, others to extend previous cuts [Video]](https://video.newsserve.net/300/v/20230604/1353683360-OPEC+-Riyadh-to-reduce-oil-output-others-to.jpg)
