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Member of the Shura Council: Increasing the Kingdom's oil production will protect the world from the evil of the contraction of supply.
Akhbarna Newspaper Member of the Shura Council, Fahd Bin Juma, pointed out that the increase in the Kingdom's daily oil production is the main reason for the increase in oil production. Under the current prices reach their interests and contacts
Ibn Juma said in a Twitter tweet that the increase in oil production of the kingdom is protecting the world from the harm of supply, pointing out that this 39; is the behavior of Saudi Arabia historically and will remain the leader of OPEC and the oil market.
The OPEC, Russia and other producers have agreed this month to increase production from July.
Saudi Arabia plans to pump up to 11 million barrels a day in July, while Russia said it could increase its production to more than 200,000 barrels a day.
Oil prices hit $ 80 a barrel this year for the first time since 2014, prompting both consumers and the United States to voice their concerns.
This increase comes at a time when the United States has asked some members of OPEC to increase their production to offset the supply losses resulting from the reimposition of sanctions against the company. 39; Iran.
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