Saudi Arabia's energy ministry says the kingdom will cut its oil production by extra voluntary amount of 1 million bpd in June

Market news

11 May 2020

Saudi Arabia's energy ministry says the kingdom will cut its oil production by extra voluntary amount of 1 million bpd in June

This brings the total output cut carried out by the kingdom, to around 4.8 million barrels per day from April production level
Kingdom's oil production for June, after both its targeted and voluntary cuts, will be 7.492 million barrels per day
Saudi Arabia aims through this additional cut to encourage OPEC+ participants and other producers to comply with the production cuts they have committed to

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