Top oil exporter Saudi Arabia will continue with its voluntary oil output cut of 1 million barrels per day (bpd) until the end of the year, an official source at the ministry of energy said on Sunday. Based on the decision, Saudi Arabia’s production in December will be around 9 million bpd, the source said in a statement. “This additional voluntary cut comes to reinforce the precautionary efforts made by OPEC+ countries with the aim of supporting the stability and balance of oil markets,” the source was quoted as saying in the statement. Oil settles down, posts weekly loss as geopolitical risk premium ebbs Oil hit a ... (full story)