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Saudi Arabia says it will maintain production cuts that have helped drive oil prices up

RIYADH, Saudi Arabia (AP) — Saudi Arabia says it will maintain a production cut of 1 million barrels of oil a day through the end of the year. Wednesday’s announcement could further prop up oil prices, which are hovering around $90 a barrel. Production cuts first announced by Saudi Arabia and Russia in July have driven up prices at the pump, enriched Moscow’s war chest and complicated global efforts to bring down inflation. The Saudi Energy Ministry says the kingdom will continue to produce 9 million barrels per day in November and December, and will review the production cut again in November.

Article Topic Follows: AP-National

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Associated Press


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