The Kingdom of Saudi Arabia will implement a voluntary cut of 500,000 barrels per day from May till the end of 2023 in coordination with some other OPEC and non-OPEC Participating Countries in the Declaration of Cooperation, said Ministry of Energy Sunday.
Saudi Press Agency (SPA) quoted a Ministry of Energy official as saying that this voluntary cut is in addition to the reduction in production agreed at the 33rd OPEC and non-OPEC Ministerial Meeting on October 5, 2022.
Source: Kuwait News Agency