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China Business News 2023-07-04 16:00:23
Editor in charge: Hao Yunying
Market sentiment was sluggish, and Saudi Arabia and Russia, two major oil producers, once again joined forces to support oil prices. On Monday local time, the Saudi Ministry of Energy announced that it would extend voluntary production cuts until August, in line with earlier media reports. On the same day, Russian Deputy Prime Minister Novak announced that Russia will reduce oil exports by an additional 500,000 barrels per day in August. According to his latest statement, Russia also plans to cut crude oil production by another 500,000 barrels per day in August.
Saudi Arabia and Russia join forces to support oil prices
Market sentiment was sluggish, and Saudi Arabia and Russia, two major oil producers, once again joined forces to support oil prices. On Monday local time, the Saudi Ministry of Energy announced that it would extend voluntary production cuts until August, in line with earlier media reports. On the same day, Russian Deputy Prime Minister Novak announced that Russia will reduce oil exports by an additional 500,000 barrels per day in August. According to his latest statement, Russia also plans to cut crude oil production by another 500,000 barrels per day in August.
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2023-07-04 08:01:29
