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Saudi Arabia sets records for an increase in production

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Saudi Arabia sets records for an increase in production
November 27
09:00 2018

According to Bloomberg, an authoritative financial information agency, Saudi Arabia is actively increasing the volume of “black gold” mined in 24 hours. At the moment, this figure has reached record levels and is equal to 11.2 million barrels.

We recall that in October this figure was approximately 10.8 million barrels per day. Then it was growing up due to the oil increased demand of the Kingdom of the Arabian Peninsula. Everyone was waiting for the termination of exports from Iran.

Khalid al-Falih, Minister of Energy in Saudi Arabia, reported that the next month the Kingdom planned to reduce the production by half a million barrels per day. The reason is simple – a reduction in the volume of applications for delivery.

 

            The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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