Saudi Arabia and Russia Extend Voluntary Oil Output Cuts Through 2022 to Support Prices
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Saudi Arabia and Russia said they will continue voluntary oil output cuts until end of 2022 to support oil prices.
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The cuts come ahead of an OPEC+ meeting but a change in policy is unlikely.
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Saudi will continue cutting output by 1 million bpd and review again next month.
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Russia will reduce exports by 300,000 bpd through end of 2022.
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The cuts are in addition to those agreed by OPEC+ in April that run through 2024.
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