Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to support the cost of crude after two earlier production cuts by members of the OPEC+ alliance of major oil-producing countries failed to push prices higher
FILE - The logo of the Organization of the Petroleoum Exporting Countries is seen outside of OPEC's headquarters in Vienna, Austria, on March 3, 2022. Leading oil-producing countries led by Saudi Arabia and Russia are wrestling with whether to make another cut in crude supplies to the global economy as the OPEC+ alliance struggles to prop up sagging oil prices that have been a boon to U.S. drivers and helped ease inflation worldwide.
FRANKFURT, Germany — Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to support the sagging cost of crude after two earlier production cuts by members of the OPEC+ alliance of major oil-producing countries failed to push prices higher.
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