RIYADH, Aug. 3 (Xinhua) -- Saudi Arabia announced on Thursday its decision to extend the voluntary cut of oil production by 1 million barrels per day to September.
The voluntary cut that was planned for July will now also cover September, the Ministry of Energy said, adding that further extensions are possible.
The kingdom will produce approximately 9 million barrels of oil per day in September.
The ministry said this cut is in addition to the voluntary cut of 500,000 barrels per day previously announced in April, which will extend through 2024.
The extension of the voluntary cut aims to reinforce OPEC+ countries' efforts to stabilize the oil markets, it noted.
OPEC+ countries refer to members of the Organization of the Petroleum Exporting Countries (OPEC) and its allies. ■
