Saudi Arabia to reduce oil production from May 1: Saudi Aramco
Saudi Aramco announces reduction in oil production from May 1.

 Aramco said in a statement on Friday that 8.5 million barrels of oil will be supplied daily from May 1, 2020.

Saudi Aramco will extract 8.5 million barrels of oil from May 1, according to newspaper 24.

It is to be noted that major oil producing countries, led by Saudi Arabia and Russia, agreed to a 9.7 million barrel reduction in cameo oil production on Sunday.

It is reported to be the largest of its kind in the history of crude oil production.

 The biggest crude deal in history was made possible after a three-day, intense bargaining, virtual meetings and online meeting of Energy Minister G Twitney. 

Opec Plus is comprised of OPEC member owners and non-oil producing countries. Russia is the leader.

US President Trump intervened to simplify Mexico's terms.

It should be noted that the demand for oil has been reduced due to the spread of the Corona virus.

Abid Latif is a highly experienced and knowledgeable professional specializing in Saudi Arabia's laws, regulations, and tech. He has lived and worked in Saudi Arabia for over 15 years and deeply understands the country's legal system, immigration policies, banking system, and telecom industry.

Comments

https://checkiqama.net/public/assets/images/user-avatar-s.jpg

0 comment

Write the first comment for this!