Based on the voluntary cut, the kingdom’s production in December will be approximately nine million barrels per day
Oil Minister Saad Al Barrak said the state firm aimed for net zero carbon emissions by 2050
Oil prices rose above $90 a barrel for the first time in 2023 on the back of the announcements made by Saudi Arabia and Russia
Since July, the kingdom has pledged to implement a unilateral production cut of one million barrels a day on top of existing curbs
The world’s largest oil company reported that it had paid out a base dividend for Q1 2023 of $19.5bn in the second quarter, which was up 4 per cent year-on-year
The impact of a slowdown in Saudi Arabia will be felt across the Middle East and Central Asia
According to Mubadala Petroleum, this achievement marked a 22 per cent increase in production from 2021
Last month, the 10 OPEC nations in the accord managed only 60 per cent of their stipulated 250,000 barrel-a-day increase