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Saudi, Russia extend voluntary supply cuts to year-end
Opec+ heavyweights Saudi Arabia and Russia said today they will extend their voluntary crude supply cuts, first introduced just for the month of July, for a further three months until the end of the year. "Saudi Arabia will extend the voluntary cut of 1mn b/d, which has gone into implementation in July and was extended to include August and September, for another three months until the end of December 2023," the Saudi energy ministry said. Russia separately said it would extend its 300,000 b/d cut to crude exports, also for a further three months until year-end. Front-month Ice Brent futures prices jumped by more ... (full story)