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FLSA - Saudi Arabia Leads By Example In Making Voluntary Output Cuts
Franklin FTSE Saudi Arabia
The additional measures undertaken by Saudi Arabia to further cut output by 1 million barrels per day (bpd) next month will help to stabilize the market balance between supply and demand.
This is not about boosting prices, which have been moving in a narrow range of around $30 per barrel for Brent crude oil for the second week in a row.
Accordingly, Saudi Arabia will produce 7.49 million bpd of crude oil in June, which is one million bpd below its agreed OPEC+ quota. This is about 4.8 million bpd lower than the record for