Saudi agrees to add oil production

INDOPOS.CO.ID – Saudi Arabia's largest oil producer has agreed to increase oil production by 2 million barrels a day to curb rising prices and maintain the stability of world oil prices.

Trump who declared King Salman of Saudi Arabia approved his request to increase oil production.

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Reported by Aljazeera on Saturday (30/6), Saturday's Trump claim comes after the # Organization of Petroleum Exporting Countries aka the Organization of Petroleum Exporting Countries (OPEC), which includes Saudi Arabia, has agreed to increase its output by one million barrels per year. day at its meeting at the beginning of the month.

On June 23, the non-OPEC member of Russia also supported the effort. "Talk to King Salman of Saudi Arabia and explain to him that because of unrest and dysfunction in Iran and Venezuela, I ask Saudi Arabia to increase its oil production, maybe up to 2 million barrels, "writes Trump on Saturday. Later on Saturday, officials at the Saudi news agency said that King Salman had spoken to Trump about the need to maintain the stability of the oil market and global economic growth, but did not give more details on the increase in production. Saudi Arabia is the world's largest oil exporter and generally stores at least 1.5 million to two million barrels per day of reserve capacity, according to the US Energy Information Administration. . This generates about 10 million barrels of crude per day, according to OPEC.

President Trump urged countries to cut off all Iranian oil imports from November when the United States reinstated sanctions against Tehran. Exactly after Trump withdrew from the nuclear deal reached in 2015 between Iran and the other six major countries.

(ina / JPC)

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