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On July 15, the Saudi energy minister said the OPEC+ agreement was moving into its next phase of reduced production cuts as oil demand was expected to recover. He reported Saudi oil exports will not increase in August and excess production will be consumed locally.

Saudi Arabia Entering Next Phase In OPEC+ Agreement

On July 15, the Saudi energy minister said the OPEC+ agreement was moving into its next phase of reduced production cuts as oil demand was expected to recover. He reported Saudi oil exports will not increase in August and excess production will be consumed locally.

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