Saudi says oil cuts show not at odds with Russia
Jul 06, 2023
Vienna [Austria], July 6: Saudi Arabia on Wednesday dismissed talk of discord with oil ally Russia, praising their coordinated decisions to remove barrels from the market in efforts to prop up prices. Oil producers are grappling with falling prices and high market volatility amid fears of global economic slowdown and the Russian invasion of Ukraine, which has upended economies worldwide. On Monday, Riyadh said that it would extend a production reduction of one million barrels per day (bpd), which began in July, to August to boost prices.
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