Saudi Arabia leads a coordinated production cut by major oil powers despite US pressure to pump more crude
Saudi Arabia has led a coordinated production cut by major oil powers despite US pressure to pump more crude, saying they were aiming at market stability.
Russia, a member of OPEC+, said it was also extending its cuts of 500,000 barrels per day to the end of this year, calling it "a responsible and preventive action". The statements came a day before OPEC+ is due to hold a Joint Ministerial Monitoring Committee meeting on Monday via videoconferencing, according to the UAE.
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