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  • 12-05-20

    Saudi Arabia to further reduce oil output in June by 1 million daily barrels

    (MENAFN)


    The energy ministry of Saudi Arabic said on Monday that Aramco, the national oil company, is going to cut the crude oil output by an additional one million daily barrels in June.

    An official at the ministry releasted a statement with the Saudi Press Agency saying that the cut is going to be a voluntary one million daily barrels alongside with the cut promised by the country in the most recent OPEC+ agreement that took place on the 12th of April.

    According to the official, the addition cut increases the total reduction in crude output to about 4.8 milion daily barrels from the output level in April

    The official was quoted saying that "Therefore, the kingdom's production for June, after both its targeted and voluntary cuts, will be 7.492 million barrels per day".

    MENAFN1205202000450000ID1100152026

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