Iran Press/ Middle East: Saudi Arabia and other OPEC+ oil producers on Sunday announced voluntary cuts to their production amounting to around 1.15m barrels per day in a surprise move they said was aimed at supporting market stability.
The move came despite US pressure to pump more crude.
Cuts by the Saudis, Iraq, UAE, Kuwait, Algeria and Oman from May to the end of the year will total more than one million barrels per day - the biggest reduction since the OPEC+ cartel slashed 2m barrels per day in October.
Russia, a member of OPEC+, said it was also extending its cuts of 500,000 barrels per day to the end of this year, calling it "a responsible and preventive action".
Last October, OPEC+ had agreed to an output cut of 2 million bpd from November until the end of the year, a move that angered Washington as tighter supply boosts oil prices. 219
