Saudi Arabia will extend a cut in the amount of oil it sends to the world after a series of reductions by members of the OPEC+ alliance of major producing countries failed to prop up prices.

Saudi Arabia, which leads the alliance of oil producers, has been instituting voluntary production cuts in an effort to keep prices up.

The policy steps were decided in a virtual meeting delayed by internal disagreements over the baselines. De facto leader Saudi Arabia extended its 1 million barrel per day voluntary trim into the first quarter.