Oil price shows ‘knee-jerk rally’ after Saudi Arabia shocks market with output cut

Posted On: June 5, 2023
Posted By: admin
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Key player: Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman Al-Saud, arrives for the 35th Opec meeting in Vienna, Austria, on 4 June 2023. Photo: REUTERS/SCANPIX

1 million barrels per day to be slashed in July alongside reduced Opec+ quotas throughout 2024