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The Guardian - UK
The Guardian - UK
Business
Alex Lawson

Brent crude price rises after Saudi Arabia agrees to cut oil output

Oil OPEC Saudi Arabia
A Saudi Arabia oil refinery at sunset
Saudi Arabia’s oil output will drop to 9m bpd in July from about 10m bpd in May. Photograph: Alamy

The price of Brent crude has risen after Saudi Arabia agreed to cut its output to firm up oil prices after a weekend of tense talks.

Saudi ministers agreed to cut 1m barrels per day (bpd) from its output from next month at a meeting of the Opec+ group of oil-producing nations in Vienna.

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