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Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Saudi Arabia will increase oil supplies to 12.3 million barrels per day in Apri

March, 10 2020
watermark Economic news

Saudi Arabian State Oil Company Saudi Aramco intends to increase oil supplies to 12.3 million barrels per day in April. The company expects this to have a positive long-term financial effect.


According to the OPEC monthly report, in January, Saudi Arabia produced 9.7 million barrels of oil per day. The authorities said that the country's production capacity is 12 million barrels per day. Moreover, the Kingdom has tens of millions of barrels of oil in strategic reserves, which can be used if necessary.


Riyadh has already announced that it has been lowering oil prices for buyers from all regions since April, after OPEC and its allies, including Russia, could not agree on Friday to further reduce production.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.