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Oil producers led by Saudis face a decision on whether to extend production cuts as oil prices lag

  • Saudi Arabia and allied oil-producing countries must decide on extending production cuts that expire soon, including a smaller group, to support prices. Analysts anticipate an extension of the cuts.
  • A smaller group of eight, including the Saudis, previously reduced 2.2 million barrels daily to bolster prices. The decision on extending this cut is imminent.
  • Reasons for oil price struggles involve increased non-OPEC production, higher interest rates, and demand concerns due to slower economic growth.
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CTV NewsCTV News

Oil producers led by Saudis extended supply cuts amid slack prices

Saudi Arabia and allied oil producing countries on Sunday extended output cuts through next year, a move aimed at supporting slack prices that haven't risen even amid turmoil in the Middle East and the start of the summer travel season.

·Canada
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Associated Press NewsAssociated Press News

Oil producers led by Saudis extended supply cuts amid slack prices

Saudi Arabia and allied oil producing countries have extended their deep output cuts aimed at supporting slack prices.

·United States
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abc Newsabc News

Oil producers led by Saudis face a decision on whether to extend production cuts as oil prices lag

Saudi Arabia and allied oil producing countries face a decision on whether to extend production cuts.

·United States
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KIFIKIFI

Oil producers led by Saudis face a decision on whether to extend production cuts as oil prices lag

By DAVID McHUGH AP Business Writer FRANKFURT, Germany (AP) — Saudi Arabia and allied oil producing countries face a decision on whether to extend production cuts. And that could push oil prices higher as the summer travel season increases demand for fuel and as the U.S. presidential election contest heats up. The OPEC+ alliance, made up of members of the Vienna-based producers cartel and allied countries, including Russia, is holding an online m…

·Idaho Falls, United States
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KRDOKRDO

Oil producers led by Saudis face a decision on whether to extend production cuts as oil prices lag

By DAVID McHUGH AP Business Writer FRANKFURT, Germany (AP) — Saudi Arabia and allied oil producing countries face a decision on whether to extend production cuts. And that could push oil prices higher as the summer travel season increases demand for fuel and as the U.S. presidential election contest heats up. The OPEC+ alliance, made up of members of the Vienna-based producers cartel and allied countries, including Russia, is holding an online m…

·Colorado Springs, United States
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Financial PostFinancial Post

OPEC+ Has Outline Deal Extending Key Oil Production Cuts

(Bloomberg) — OPEC+ has the outline of a deal to extend a crucial tranche of its oil supply cuts into the second half of the year, delegates said, as the group continues its efforts to avert a global surplus and shore up prices.

·Canada
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