OPEC+ Latest: Saudis Unveil Extra 1 Million Barrel Cut
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Saudi Arabia will make an additional voluntary cut of 1 million barrels of oil a day as part of a deal struck by OPEC+ after hours of tense haggling.
Saudi Energy Minister Prince Abdulaziz bin Salman unveiled the reduction in a statement, once again managing to pull off a surprise. The Saudi move is the most meaningful part of the deal, which also includes an agreement to extend voluntary cuts through 2024.