Energy
Saudi Arabia cuts oil output by a million barrels a day to boost sagging prices
The move underlines the uncertain outlook for demand for fuel in the months ahead
Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to support the sagging cost of crude after two earlier production cuts by members of the Opec+ alliance of major oil-producing countries failed to push prices higher.
The announcement of the Saudi cuts of one million barrels per day came on Sunday after a meeting of the alliance at OPEC headquarters in Vienna.
The rest of the Opec+ ...