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Saudi Aramco reported they will reduce oil shipments in June to at least a dozen customers in Asia and make even deeper reductions to Europe and the U.S. in order to comply with OPEC+ oil production cuts. The voluntary production reduction aims to drain a glut that has caused low oil prices this year.

Saudi Arabia To Reduce Oil Exports Per OPEC+ Agreement

Saudi Aramco reported they will reduce oil shipments in June to at least a dozen customers in Asia and make even deeper reductions to Europe and the U.S. in order to comply with OPEC+ oil production cuts. The voluntary production reduction aims to drain a glut that has caused low oil prices this year.

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