Supply Titans News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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%. let's go live now to our middle east business correspondent, sameer hashmi. it doesn't sound like a lot, 1.5%, but it could have big implications. explain how important these two players are. explain how important these two players are-— explain how important these two -la ersare. �*, ., ~ ., players are. let...

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 we've 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 it's not the first time saudi arabia or russia have announced cuts. opec plus has announced several round of cuts since october last year. that hasn't helped to push up prices because demand has been weakening for two rea...