( ) -q-22- UNDATED (Correspondent Jeremy House) “war against Ukraine.” Saudi Arabia and allied oil producing countries have extended their deep output cuts aimed at supporting slack prices. [CutID: <Cuts> SAUDIS-OIL-house-q-MONam.mp3 Time: 22s Title: SAUDIS-OIL-house-q-MONam Out-cue: war against Ukraine] TAG: Correspondent Jeremy House reporting. The Saudis need higher oil prices to fund ambitious plans to […]
Audio
Oil producers led by Saudis extended supply cuts amid slack prices
( ) -q-22- UNDATED (Correspondent Jeremy House) “war against Ukraine.”
Saudi Arabia and allied oil producing countries have extended their deep output cuts aimed at supporting slack prices.
[CutID: <Cuts> SAUDIS-OIL-house-q-MONam.mp3
Time: 22s
Title: SAUDIS-OIL-house-q-MONam
Out-cue: war against Ukraine]
TAG: Correspondent Jeremy House reporting. The Saudis need higher oil prices to fund ambitious plans to diversify the country’s economy away from fossil fuel exports.
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VERBATIM: Oil prices have slumped even in the face of turmoil in the Middle East and the start of the summer travel season. The OPEC+ alliance, made up of members of the producers cartel and allied countries including Russia, decided at an online meeting to carry 5.8 billion barrels in production cuts into next year. Higher prices would support Russia in its war against Ukraine.