Saudi Energy Minister Khalid al-Falih speaks to media at the Saudi-US CEO Forum 2017 ahead of the arrival of the U.S. President Donald Trump, in Riyadh, Saudi Arabia May 20, 2017. REUTERS/Hamad I Mohammed
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Saudi Arabia's energy minister expressed confidence on Sunday of extending a global cut in oil production designed to boost prices.At the end of November, OPEC's 13 members agreed to cut output by 1.2 million barrels per day from January 1, initially for a period of six months to reduce a supply glut.Last week Russia and Saudi Arabia, the world's two biggest oil producers, jointly called for oil producers to extend their production cuts to March 31, 2018 .Saudi Arabia currently produces close to 10 million bpd, Falih said.
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