Saudi Arabia extends production cap until June

As expected, Saudi Arabia will try to maintain upward pressure on oil prices by extending its production cap until the end of June. The Saudi government’s news agency announced on Sunday that the country will extend its voluntary crude production cut of 1 million barrels a day until the end of the second quarter. Saudi Arabia's Ministry of Energy stated that the country’s crude production will be approximately 9 million barrels per day until the end of June.

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