Supply Titans News Today

first it was saudi arabia which announced it was cutting its production by one million barrels per day from august. then russia said it was cutting its production by half a million barrels per day from august too. the cuts mean global supplies will be reduced by around 1.5%. lets go live now to our middle east business correspondent, sameer hashmi. it doesnt sound like a lot, 1.5%, but it could have big implications. explain how important these two players are. explain how important th...

August and possibly further if required. on the same day we heard from moscow which is going to reduce its exports by 500,000 barrels a day. it significant because it can impact the market as weve seen oil prices have gone up and this is exactly what moscow is hoping that these cuts as the supply titans will push up prices. but how long will they hold is the question because its not the first time saudi arabia or russia have announced cuts. opec plus has announced several round of cuts since oct...