Saudi Arabia commits to significant oil production cuts.
TL;DR
Saudi Arabia plans to cut its oil output by 1 million barrels per day in an effort to boost oil prices, which have been hit hard by the COVID-19 pandemic. The move is expected to help stabilize the energy market and support the global economy.
- Saudi Arabia to cut oil production under new Opec+ deal Financial Times
- Saudis Pledge Million-Barrel Cut at OPEC+ Meet; Oil Surges Bloomberg Television
- Saudi Arabia is slashing oil supply. It could mean higher gas prices for US drivers Yahoo News
- Saudi Arabia Is Taking the Oil Market Back to the Future Bloomberg
- Saudi pledges big oil cuts in July Reuters
Want the full story? Read the original reporting
Read on Financial Times