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The Saudi Energy Ministry announced on its website that it intends to cut oil production through the end of the year, producing 9 million barrels per day in November and December. Critics note that because this cut was conducted in partnership with Russia, the subsequent price increases will likely contribute to Russia’s ability to fund the war on Ukraine and negatively impact the global inflation issue.

Saudi Arabia says it will maintain production cuts that have helped drive oil prices up

The Saudi Energy Ministry announced on its website that it intends to cut oil production through the end of the year, producing 9 million barrels per day in November and December. Critics note that because this cut was conducted in partnership with Russia, the subsequent price increases will likely contribute to Russia’s ability to fund the war on Ukraine and negatively impact the global inflation issue.

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