BAKU, Azerbaijan, March 3. Saudi Arabia has
extended its voluntary oil production cut of 1 million barrels per
day until the end of the second quarter of 2024, an official source
in the country’s Ministry of Energy said, Trend reports.
According to information, this means that the country’s oil
production will remain at 9 million barrels per day until June.
It is reported that the reduced volumes will be returned to the
market gradually depending on its condition. This is in addition to
the previously announced production cut of 500 thousand barrels per
day, which will remain in effect until the end of 2024.