An official source in the Ministry of Energy announced that, as a precautionary measure, the Kingdom of Saudi Arabia will extend its voluntary cut of 500 thousand barrels per day until the end of December 2024, in coordination with some countries participating in the OPEC Plus agreement.

This voluntary reduction from the required production level as agreed upon at the thirty-fifth ministerial meeting of OPEC Plus on June 4, 2023.

Source: Saudi Press Agency