FILE – People queue with their cars at a gas station in Frankfurt, Germany, on Aug. 31, 2022, the last day when the government’s fuel prize discount is in effect. Major oil-producing countries led by Saudi Arabia and Russia have said they’re throttling back supplies of crude — again. And this time, the decision to cut back was a surprise that is underlining worries about where the global economy might be headed. (AP Photo/Michael Probst, File)

FRANKFURT, Germany (AP) — Some of the globe’s biggest oil producers are cutting back. Saudi Arabia, the United Arab Emirates, Kuwait and others are saying they’ll dial back supplies of crude to the global economy by a million barrels a day. That could send prices higher — or at least keep them from sliding to where they hurt the budgets of oil-producing countries. Russia is extending its own cuts, too. Higher prices could help Moscow weather Western sanctions over Ukraine. But much depends on the global economy and whether demand for oil rebounds strongly in coming months. Combined with a cut of 2 million barrels per day announced in October, producers have axed about 3% of the world’s oil supply.