Saudi Arabia to cut oil output by 1 million barrels per day to boost slumping prices

Saudi Arabia to cut oil output by 1 million barrels per day to boost slumping prices

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FRANKFURT, Germany -- Saudi Arabia said Sunday that it will reduce how much oil it sends to the global economy, taking a unilateral step to support the sagging cost of crude after two previous cuts to supply by major oil-producing countries in the OPEC+ alliance failed to push prices higher. The…

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