Abu Ali Express

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Oil Prices Surge as Saudi Arabia Extends Production Cuts for Three More Months

Today, Saudi Arabia made a significant announcement, confirming its decision to extend the reduction in daily oil production to one million barrels for three more months.

This development has led to a significant surge in oil prices, pushing the cost of a barrel of Brent crude oil beyond the $90 mark for the first time since October 2022.

The Biden administration is likely not satisfied with this move…

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