#OPEC+ agreement

Oil production to be hit after Saudi Arabia announces cuts. Image: Getty Images

Saudi Arabia to cut additional one million barrels in oil production after OPEC+ talks

The 23-nation group offered no additional action to buttress the market, but pledged to maintain their existing oil production cuts until the end of 2024

Saudi crude exports jump to highest in more than two years

The OPEC+ alliance will meet via video conference on August 3 to decide on future production policy

Oil extends slide below $32 on signs US stockpiles swelled

Oil is still up almost 70 per cent this month as supply curbs trim a global glut and pockets of demand emerged after the easing of lockdown restrictions