Saudis, Allies Open Door to Oil-Output Cut to Keep Prices High

RIYADH, Saudi Arabia—Saudi Arabia and a few of its oil-producing allies have steered chopping crude manufacturing, disappointing U.S. officers who predicted the dominion could be instrumental in cooling the market after President Biden met Crown Prince Mohammed bin Salman for the primary time in workplace.

The Saudi-led Group of the Petroleum Exporting International locations and a coalition of producers led by Russia—collectively often known as OPEC+—agreed to a smaller-than-expected manufacturing improve earlier in August.