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Saudi Arabia has indicated for some time that mining should be reduced next year.
Saudi Arabia currently has more than 11 million barrels of oil per day (1 barrel = 159 liters). It is the highest volume of the country's history.
As Bloomberg said, referring to a close source of information, mining reaches up to 11.2 million barrels a day. Earlier in the month, production ranged from 10.8 to 10.9 million barrels a day, they said before market time. Some days in early November, the market supply exceeded 11 million barrels a day, when Riyadh was also in stock.
Until now, we do not know what will happen in the next few days. Representatives of the oil sector in the country did not comment on the information.
The markets are waiting for negotiations with members of the Organization of the Petroleum Exporting Countries (OPEC) and other major producers led by Russia. The meeting will be held on December 6 in Vienna with a decision on the production strategy next year.
Saudi Arabia has indicated for some time that it would be necessary to reduce mining activity next year, while it plans to make cuts from December, when deliveries want to reduce by 500,000 barrels per day compared to November.
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