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Saudi Arabia says it will extend its unilateral production cut of 1 million barrels of oil a day through the end of September in its effort to boost flagging energy prices DUBAI, United Arab Emirates -- Saudi Arabia said Thursday it will extend its unilateral production cut of 1 million barrels of oil a day through the end of September in its effort to boost flagging energy prices, a move that could push U.S. gas prices higher. The Saudi reduction, which began in July, comes as the other OPEC+ producers have agreed to extend earlier production cuts through next year. The national average for U.S. gas prices stood at about $3.82 a gallon on Tuesday — about 30 cents higher than a month ago, according to motor club AAA. While today’s prices at the pump remain far lower than they were last year, when energy costs soared worldwide in the months following Russia’s invasion of Ukraine, experts say such a jump is unusual. This year's record-breaking summer heat has also had an impact, dri...

Five European Union countries will extend their ban on Ukrainian grain to protect their farmers’ interests WARSAW, Poland -- Five European Union countries will extend their ban on Ukrainian grain imports to protect their farmers’ interests, their agriculture ministers said Wednesday, but food can still move through their land to parts of the world in need after Russia pulled out of a deal safeguarding Black Sea shipments. The ministers of Poland, Slovakia, Hungary, Romania and Bulgaria signed a joint declaration ahead of EU discussions on the matter planned next week in Brussels. The declaration said they support continuing to allow Ukraine's grain to move through their borders by road, rail and river to destinations where it is needed but will keep the import ban to their countries through 2023. “This coalition is not against anyone, not against Ukraine or the EU, it is in the interest of our farmers,” Polish Agriculture Minister Robert Telus said after meeting with his counterpar...