Saudi Arabia has been at the forefront of pushing members of Opec+ to cut production (Reuters/File photo)
Middle East Eye: Russia set to take over Saudi Arabia for top spot in Opec+
Kingdom's latest oil production cut brings it to two-year low of nine million barrels a day, says International Energy Agency
Russia is set to surpass Saudi Arabia as the largest oil-producing country in the Opec+ alliance, as the kingdom continues cutting crude output, according to the International Energy Agency (IEA).
Riyadh, which has been the de facto leader of the consortium of oil-producing countries, has been slashing its oil output in recent months, as it seeks to put a floor on prices in an attempt to fund an ambitious spending programme at home.
Last week, Saudi Arabia said that a one million barrel oil production cut (which was announced in June) would be extended into August, and could be extended again. The cuts put the country's oil production at a two-year low of nine million barrels a day.
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WNU Editor: There will be a demand for this oil .... Global Oil Demand to Reach Record High in 2023: IEA (Rigzone).
Russia To Overtake Saudi Arabia As The World's Top Oil Producer
Russia to surpass Saudi Arabia as top OPEC+ oil producer -- Cradle
Russia to overtake Saudi Arabia as top oil producer – IEA -- RT
Russia is about to overtake Saudi Arabia as the top OPEC+ producer -- Market Insider
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