REUTERS/Ramzi Boudina//File Photo Acquire Licensing RightsDUBAI, Nov 5 (Reuters) - Top oil exporters Saudi Arabia and Russia confirmed on Sunday they would continue with their additional voluntary oil output cuts until the end of the year as concerns over demand and economic growth continue to weigh on crude markets.
Saudi Arabia confirmed it would continue with its additional voluntary cut of 1 million barrels per day (bpd) translating into a production of around 9 million bpd for December, a source at the ministry of energy said in a statement.
Following the Saudi statement, Moscow also announced it would continue its additional voluntary supply cut of 300,000 bpd from its crude oil and petroleum product exports until the end of December.
Saudi Arabia, OPEC's de-facto leader, first made the voluntary cut for July as an addition to a broad supply-limiting deal first agreed by some members of OPEC+ in April.
The kingdom said in September it would extend its additional voluntary cut until the end of the year, and review the decision monthly.
Persons:
Ramzi Boudina, OPEC's, Omar Abdel, El, Alexander Smith, Sharon Singleton, David Evans
Organizations:
Organization of, Petroleum, REUTERS, Rights, OPEC, Saudi, Brent, Analysts, Thomson
Locations:
OPEC, Algiers, Algeria, Rights DUBAI, Saudi Arabia, Russia, Moscow, East, Vienna