Saudi Arabia said the voluntary additional cuts would last only one month
 

Xinhua News Agency Riyadh, June 09, 2020--audi Arabia, Kuwait and the United Arab Emirates' voluntary additional oil production cuts will last for only one month, Saudi Arabia's energy minister Abdel-Aziz bin Salman said Tuesday.
 
Saudi Arabia, Kuwait and the United Arab Emirates voluntarily cut their output by a total of 1.18 million barrels a day in June for just one month, Abdul-Aziz said at an Opec webseminar with reporters.
 
Saudi Arabia's energy ministry announced on May 11 that it would cut an additional 1 million barrels a day of crude oil in June, on top of an existing agreement to cut output. Kuwait and the United Arab Emirates subsequently announced additional production cuts of 80,000 b/d and 100,000 b/d, respectively, starting in June.
 
On how to ensure that Opec and non-OPEC producers implement the extended cuts, Mr Abdul-aziz said producers were willing to contribute to stabilising the market by cutting output in line with their quotas.
 
Opec and non-OPEC producers reached an agreement on June 6 to extend the current production cut of 9.7m b/d until the end of July. Saudi Aramco raised official prices for July crude oil exports across the board Tuesday.
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