Saudi Energy Minister said that state-owned Saudi Aramco will reduce production by an additional 1 million barrels per day starting from June. This will bring the Kingdom's production to around 7.5 million barrels per day. Moreover, Kingdom asked the company to cut production in May as well if it is possible. Oil prices jumped on the news with OIL.WTI moving from $25.20 to around $26.50.
OIL.WTI jumped on news that Saudi Aramco will cut more production than expected (orange circle). Source: xStation5
Daily Summary: End of the week in the red, tech rally waning
🔝Silver Jumps 10% Weekly, up 120% YTD
Chart of the day - SILVER (12.12.2025)
Daily summary: SILVER at a new ATH, EURUSD at its highest since October