Saudi Arabia’s Cabinet Throws Support Behind OPEC+ Cut Extension

Saudi Arabia’s cabinet, or Council of Ministers, showed its support for what it considers to be precautionary measures taken by OPEC+ to stabilize the oil market, Saudi Arabi media said on Tuesday. It said it would continue to boost OPEC+ precautionary efforts to support the stability of the oil markets, Kingdom officials said. Saudi Arabia, the world’s largest oil exporter, said last week that it would extend its 1 million barrel per day production cut through the month of September, past its original deadline at the end of August.…