reporter: the saudi cut is part of a broader opec-plus deal to limit supply into 2024. it s the third supply reduction agreed upon by the group in the last eight months. is that a lot for them? what s unusual about the cuts you ve seen is that they re happening preemptively. not in response to weak prices but in anticipation of them. so, yes, bret, that s very unusual. opec plus has in place cuts for more than 3.5 million barrels a day, that s 3.6% of global demand. those cuts were valid until the end of this year. but at the june meeting, the countries agreed to extend those cuts until 2024. saudi arabia s energy minister says opec-plus is trying to address market instability. in the second half of the year, demand is going to go up more sharply. i think opec is trying to create a price floor in the global market place in the wake of pretty significant global uncertainty and demand. western countries including
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