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FinancialNews
13-02-19
Saudi Arabia to reduce oil exports, production
(MENAFN) Saudi Arabia was announced to have reached a decision to cut its oil exports starting March, making it reach 6.9 million barrels per day (bpd).
Saudi Energy Minister Khalid Al-Falih unveiled the targeted number, compared to the 8.2 million bpd of oil exported in 2018.
Effective March, the minister revealed, Saudi Arabia is also planning to impose cuts to its oil output to stand at 9.8 million bpd.
Al-Falih affirmed: "we are no longer going to be inward-looking and focused only on monetizing the kingdom's resources."
MENAFN1302201900450000ID1098112314
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