Saudi to cut output by 1mln bpd under OPEC+ deal, Russia by 0.5mln bpd

Saudi Arabia is set to cut output by 1 mln barrels per day (bpd) in early 2024 under the terms of an OPEC+ agreement on Thursday, with Russia contributing a 500,000 bpd cut, an OPEC+ delegate told Reuters.

Other members of the producer alliance are also expected to contribute additional cuts, the source added.

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