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Saudi Arabia has increased oil production

9 2018 June
Tags:Saudi Arabia, Oil, Economy, Resources

Saudi Arabia began to increase the extraction of "black gold" after a reduction of about two years, writes The Wall Street Journal.

Sources WSJ reported that in May the volume of oil production in the kingdom increased by more than 100 thousand barrels per day, reaching about 10 million barrels per day. In June, the Saudis want to increase the figure by at least 100 thousand barrels a day, TASS reports.

"This step will help reduce concerns in the markets," one source said. He stated that there are concerns about interruptions in oil supplies from Iran.

According to the publication, "the volume to which crude oil production is increased is not very large by the standards of Saudi Arabia."

At the same time, the WSJ recognizes that Riyadh has made a sharp change in course. Previously, the kingdom "headed a coalition of countries from among the major oil suppliers, which in the past two years significantly reduced the volume of production."

According to the company Kpler, exports from the kingdom in May increased by 300 thousand barrels per day.

On the eve of Reuters reported that the US authorities asked Saudi Arabia to increase oil production the day before the announcement made by US President Donald Trump about the withdrawal from the nuclear deal with Iran.

Anton Nikitin
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