Saudi Arabia has decided to continue implementing a measure to voluntarily cut oil production by 1 million barrels per day until the end of 2023.
Prior to that, the voluntary cuts were first set for July and then extended to August and September.
Saudi Arabia then stated that it would extend the production cuts through the end of the year but will review the decision each month.
Meanwhile, Russia remains committed to a voluntary cut of 300,000 barrels per day by the end of this year and intends to explore the possibility of increasing or reducing its production in November.