Saudis, Allies Open Door to Oil-Output Cut to Keep Prices High

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RIYADH, Saudi Arabia—Saudi Arabia and a few of its oil-producing allies have prompt reducing crude manufacturing, disappointing U.S. officers who predicted the kingdom would be instrumental in cooling the market after President Biden met Crown Prince Mohammed bin Salman for the primary time in workplace.

The Saudi-led Group of the Petroleum Exporting Nations and a coalition of producers led by Russia—collectively often called OPEC+—agreed to a smaller-than-expected production increase earlier in August.

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