The United Arab Emirates, Kuwait and Saudi Arabia have no plans to extend their voluntary additional oil output cuts of 1.180 million bpd beyond June, four sources familiar with the matter said.
To extend oil output cuts until the end of July, an agreement last week made by OPEC+. By withdrawing almost 10 percent of global supply from the market, this agreement prolongs a deal that in the past two months has helped crude prices double.
Beyond the output commitments under the pact, the three countries (the UAE, Kuwait and Saudi Arabia) had pledged to cut by an extra 1.180 million bpd in June. However, this was unlikely to continue in July as the producers are expected to pump according to their OPEC crude quotas, the sources said.
