Saudi Arabia is reducing oil supply; OPEC may cut too
ABC News 10 -

Saudi Arabia will reduce oil supply next month in response to lower demand, and more cuts could follow next year.

Speaking at a conference in Abu Dhabi, Saudi energy minister Khalid Al Falih said the kingdom's oil output would fall by 500,000 barrels per day in December.

Members of the Organization of Petroleum Exporting Countries (OPEC) and its allies could reduce supply further next year if needed, he added.

"The consensus among all members is that we need to do whatever it takes to balance...


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