UAE Energy Minister Suhail Mohamed Al Mazrouei on Wednesday stated Saudi Arabia prolonged its voluntary cut in oil production not only for the good thing about the dominion however for the complete market.
The minister made the announcement whereas addressing the OPEC worldwide seminar in Vienna.
Earlier in July, Saudi Arabia introduced that it will prolong July’s voluntary cut in oil production by a million barrels per day to August.
Russian Deputy Prime Minister Alexander Novak stated that Russia would additionally voluntarily cut back oil exports by 500,000 barrels per day in August to make sure the steadiness of the oil market.
Sputnik/NAN
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