Saudi supports OPEC+ oil cut extension into May-June -source

Reuters | Riyadh | Updated: 30-03-2021 03:23 IST | Created: 30-03-2021 03:16 IST
Saudi supports OPEC+ oil cut extension into May-June -source
Representative image Image Credit: ANI

Saudi Arabia is prepared to support extending oil cuts by OPEC and allies into May and June and is also ready to extend its own voluntary cuts to boost oil prices amid a new wave of coronavirus lockdowns, a source briefed on the matter said on Monday.

"They don't see demand as yet strong enough and want to prevent prices from falling," the source said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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