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Crude up overnight.. Saudi extending its production cut to 2024....

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    Crude up overnight..

    Saudi extending its production cut to 2024.

    “Riyadh first applied the 1 million-barrels-per-day reduction in July and has since extended it on a monthly basis. The cut adds to 1.66 million barrels per day of other voluntary crude output declines that some members of the Organization of the Petroleum Exporting Countries have put in place until the end of 2024..

    The Paris-based International Energy Agency expects increasing supply tightness in the second half of 2023 as demand recovers in China, the world's largest crude importer.”

    https://www.cnbc.com/amp/2023/09/05...arrels-per-day-until-the-end-of-the-year.html
 
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