Saudi Arabia to extend voluntary 1 mbpd oil output cut to end-March - SPA

Saudi Arabia will extend its voluntary oil output cut of 1 million barrels a day through the end of March, state news agency SPA said on Thursday, citing an energy ministry source. The kingdom's oil production will be about 9 million bpd until the end of March 2024, SPA said.

"Afterwards, in order to support market stability, these additional cut volumes will be returned gradually subject to market conditions," SPA said.

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