{"id":22036,"date":"2020-04-22T16:12:19","date_gmt":"2020-04-22T15:12:19","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=22036"},"modified":"2020-04-22T16:12:19","modified_gmt":"2020-04-22T15:12:19","slug":"saudi-ready-to-stabilize-oil-market","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/saudi-ready-to-stabilize-oil-market\/","title":{"rendered":"Saudi ready to stabilize oil market"},"content":{"rendered":"\n<p><strong>By DPA<\/strong><\/p>\n\n\n<p>Saudi Arabia has reported amidst glut in oil market that it was ready to take further measures together with OPEC+ members and other producers to achieve stability in the market.<\/p>\n\n\n<p>\u201cThe Kingdom is fully committed, along with Russia, to implement \u2026 production cuts over the coming two years,\u201d the cabinet said in a statement on Tuesday<\/p>\n\n\n<p>The statement was made following a meeting chaired by Saudi King Salman.<\/p>\n\n\n<p>Saudi Arabia and Russia would continue to closely monitor the situation in the oil market, the statement added.<\/p>\n\n\n<p>On Monday, United States crude oil prices plummeted to their lowest levels ever, as contracts settled deep into negative territory for the first time amid shortages in storage capacity and a collapse in demand due to the coronavirus pandemic.<\/p>\n\n\n<p>Earlier in April, OPEC+ countries \u2013 an expanded format of the Organisation of Petroleum Exporting Countries (OPEC)&nbsp;&nbsp;agreed on a deal to cut production by 9.7 million barrels per day for May and June,<\/p>\n\n\n<p>It however failed to buoy prices back to their previous levels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By DPA Saudi Arabia has reported amidst glut in oil market that it was ready to take further measures together with OPEC+ members and other producers to achieve stability in the market. \u201cThe Kingdom is fully committed, along with Russia, to implement \u2026 production cuts over the coming two years,\u201d the cabinet said in a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[126],"tags":[161,162,163],"class_list":["post-22036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade-and-industry","tag-crude-oil","tag-oil","tag-opec-2","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - 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