Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen correspondent to southern Lebanon: Israeli warplanes launched a raid on the Ksar Zaatar neighborhood in western Nabatieh.
Al Mayadeen's correspondent in Gaza: The tower destroyed by the Israeli occupation in Gaza includes media offices, including Al Mayadeen's bureau.
Al Mayadeen's correspondent in Gaza: Four fetuses and three premature babies died at Nasser Medical Complex due to malnutrition
Lebanese Ministry of Health: One person was killed in an Israeli airstrike on a car in the town of Burj Qalawieh, south Lebanon.
Al Mayadeen correspondent: The first ship of the Maghreb fleet delivering aid to break the siege on Gaza departs from the port of Gammarth in Tunisia.
Channel 12: Airspace closed at Ramon Airport due to fears of drone infiltration
IOF Spokesperson: Sirens sounded over an aircraft infiltration in the Bir Ora area, and details are being examined
Drone infiltration sirens sound north of the Gulf of Aqaba
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out five extremely violent raids on the western areas of Gaza City
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out major bombings in the Gaza Strip, the most violent since October 7

S. Arabia extends 1Mln barrel daily oil production cut to end of 2023

  • By Al Mayadeen English
  • Source: Agencies
  • 5 Nov 2023 18:28
3 Min Read

According to sources from the Saudi Energy Ministry, this decision will reduce the Arab country's daily oil production to around 9 million barrels in December.

  • x
  • A photographer takes pictures of the Khurais oil field during a tour for journalists, 150 km east-northeast of Riyadh, Saudi Arabia, on June 28, 2021. (AP)
    A photographer takes pictures of the Khurais oil field during a tour for journalists, 150 km east-northeast of Riyadh, Saudi Arabia, on June 28, 2021 (AP)

State-owned news agency SPA reported on Sunday that Saudi Arabia will reduce its daily oil production by an additional 1 million barrels until the end of 2023, as part of its voluntary output cuts.

According to sources from the Saudi Energy Ministry, this decision will reduce the Arab country's daily oil production to around 9 million barrels in December.

In addition to Riyadh's OPEC+ commitments, which involve reducing production until the end of 2024, this voluntary cut will be reviewed next month, the ministerial source added. 

This comes as part of Saudi Arabia and Russia's voluntary oil production cuts which they vowed to pursue until the end of the year.

In a separate statement, Moscow announced that it is limiting exports by 300,000 barrels.

Some believe that this might be a strategy devised to propell former US President Donald Trump back in power. But the matter remains open to debate.

Related News

Aramco no longer commands premium after stock decline

China's independent oil firms push into Iraqi giants-dominated market

Gas prices are about to go up b/c the Saudis are cutting production for no reason other than to affect the 2024 election - because they love Trump.

You're setting it up to appear as Biden's fault when it's more our countries fault for being dependent on other countries' oil.

+ pic.twitter.com/fK12v8t5m1

— Spaceraham (@puwulitics) September 8, 2023

Read more: OPEC+ cuts start hitting in: Global oil prices surge, US drains SPR

In a related context, several news reports have over the past few days highlighted that US President Joe Biden's chances of securing another win in the upcoming elections are dimming amid divisions within his own party over the war on Gaza. 

Former Virginia State Senator Richard Black told Sputnik on Saturday that  Biden's neglect of the suffering of the Arabs and his apathy toward the genocide in Gaza may cost him his presidency.   

On another note, the Federal Reserve said in its November policy meeting on Wednesday that it opted to keep US interest rates steady, maintaining the same stance as its September decision. This follows a series of 11 rate hikes made between March 2022 and July 2023, which were implemented to address inflation levels not observed in the past four decades.

Jerome Powell reported that the economy showed robust growth in the third quarter, with job gains remaining strong but moderating.

"Recent indicators suggest that economic activity expanded at a strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation remains elevated," Powell said in a statement.

  • OPEC+
  • Oil prices
  • Saudi Arabia

Most Read

The damaged building in the Katara neighborhood, Doha, Qatar, September 9, 2025 (Social media)

Hamas delegation survives Israeli assassination attempt in Qatar

  • Politics
  • 9 Sep 2025
Pro-"Israel" conservative Charlie Kirk shot during Utah speech

American far-right activist Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
President Nicolas Maduro gestures to supporters during the inauguration of a monument in China's honor on the 80th anniversary of the end of World War II, in Caracas, Venezuela, Wednesday, September 3, 2025 (AP)
Politics

Maduro warns of threats, urges 'battle for truth' to defend Venezuela

Damage is seen after an Israeli strike targeted a compound that hosted Hamas' political leadership in Doha, Qatar, Wednesday, Sept. 10, 2025. (AP Photo/Jon Gambrell)
Politics

Netanyahu informed Trump before deadly attack in Doha: Reports

Israeli Prime Minister Benjamin Netanyahu and US Secretary of State Marco Rubio hold a joint press conference at the Prime Minister's Office, during Rubio's visit, in occupied al-Quds, occupied Palestine, Monday, September 15, 2025 (AP)
Politics

Netanyahu warns of Israeli isolation, calls to boost self-reliance

Spain axes €700Mln arms deals with 'Israel' over Gaza genocide
Politics

Spain axes €700Mln arms deals with 'Israel' over Gaza genocide

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS