Saudi Arabia risks angering US as it announces cut in oil production

It described the move as a “precautionary measure” aimed at stabilising the oil market

Saudi Arabia cuts to cut its oil production (Alamy)

Saudi Arabia says it will cut oil production by 500,000 barrels per day from May until the end of 2023.

The move would likely raise oil prices, further straining relations between Riyadh and Washington as the world copes with inflation fuelled in part by the war in Ukraine.