Saudi extends 1m bpd oil output cut: energy ministry
Saudi Arabia announced Thursday it is extending a voluntary oil production cut of one million barrels per day for another month, keeping up its campaign to prop up prices.
"Saudi Arabia will extend the voluntary cut of one million barrels per day... for another month to include the month of September," the energy ministry said in a statement.
The cut, which first took effect for July, could be further prolonged or even deepened, the energy ministry added.
The move leaves daily production by the world's biggest crude exporter at approximately nine million bpd.