DUBAI (Reuters) – Saudi Arabia’s energy minister said on Thursday the kingdom was extending its voluntary 1 million barrel per day (bpd) oil production cut and would in coming months choose when to gradually phase out this reduction.
“We are not in a hurry to bring it forward … We are cautious,” Energy Minister Prince Abdulaziz bin Salman told a news conference after a meeting of OPEC+ ministers, adding that Saudi Arabia would decide when to end its voluntary cut “at our time, at our convenience.”
Editing by Edmund Blair
