Saudi Arabia extends cut of 1 million barrels of oil a day through September, trying to boost prices

[SteveG]

Sheikdown at the gas pump

Saudi Arabia extends cut of 1 million barrels of oil a day through September, trying to boost prices
https://apnews.com/article/saudi-arabia-...11f991f714

DUBAI, United Arab Emirates (AP) — Saudi Arabia said Thursday it will extend its unilateral production cut of 1 million barrels of oil a day through the end of September in its effort to boost flagging energy prices.

The Saudi reduction, which began in July, comes as the other OPEC+ producers have agreed to extend earlier production cuts through next year.

The kingdom announced the extension in a statement on the state-run Saudi Press Agency, quoting an anonymous official in the kingdom’s Energy Ministry. The official added that the cut “can be extended or deepened” if the need arises.

“This additional voluntary cut comes to reinforce the precautionary efforts made by OPEC+ countries with the aim of supporting the stability and balance of oil markets,” the official said.

[btfc]

What classified documents did MBS get from Trump and when did he get them?

:dunno:

[bfd]

Trying? Gas is already back to over $5/gal again out west! That's one sure way to ration it.

[Acer]

EVs selling at record pace. Daily new agreements to install and standardize charging stations. Solar and wind projects enjoying tax breaks and investment. Perfect time to make people hate paying for your product as much as possible!

[RgrF]

We're now starting to pay for energy at levels Europeans have been paying for decades.

[SteveG]

Despite the Saudis trying to gouge the world, U.S. gas prices are I believe 38¢ lower than last year.

However, that does not mean that the Saudis (and their friends, like Russia) are not trying to continually rip us off for trillion$.

And yet they try to present themselves as some sort of ally to America...but only because they think the much more populous and crazier Iran will develop nukes.