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European Midday Briefing : Saudi Cuts Give Boost to Oil Majors

MARKET WRAPS Stocks: European stocks struggled for direction on Monday, following the strong U.S. jobs data on Friday, and after OPEC announced another voluntary production cut. "Friday's jobs report had something for the bulls and the bear. | 06:37am

European Midday Briefing: Saudi Cuts Give Boost to Oil Majors

European Midday Briefing: Saudi Cuts Give Boost to Oil Majors
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Transcripts for CNN CNN This Morning 20240604 12:28:00

right, not to left. it s a numbers game. great to have you. thank you very much. so wednesday, dana bash will moderate another cnn republican town hall. this will be with former vice president mike pence in iowa and starts at 9:00 p.m. eastern only lighter on cnn. well, gas prices could soon be on the rise in the u.s. that s as saudi arabia announces plans to slash production by a million barrels per day, starting next month. let s get right to cnn s chief business correspondent, christine romans. tell us about the impact this could have to really all of us? we ve had a nice tailwind in the u.s. economy and that s been falling gasoline prices and falling oil prices for some time. and saudi arabia is stepping up there and saying, there will be an output cut. and what that will stand to do is raise gas prices and raise oil prices, eventually. but how much still remains to be seen? this is 9 million barrels per day is what saudi arabia is going to pump from now on. that s down

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