empty
 
 
Saudi Arabia continues to cut oil production
22-10-2019 12:11
Saudi Arabia continues to cut oil production
Saudi Arabia continues to cut oil production

Reportedly, the OPEC+ deal to cut oil supply is still relevant for Saudi Arabia. According to experts, the kingdom is determined to adhere to the agreement and will continue to reduce oil production. Presently, Saudi Arabia is committed to its previous obligations to minimize oil extraction to support prices. The country is willing to cut oil output by 400 thousand barrels per day in terms of the deal with OPEC+ alliance. According to preliminary estimates, this and next month, oil production volume in Saudi Arabia will be about 9.86 million barrels per day. Saudi Arabia officials believe that it will be possible to talk about changing the current strategy if OPEC and its oil-producing allies review their obligations. Depending on the current situation, members of OPEC+ can update the details of the agreement on crude oil production before the December meeting, Saudi authorities say.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS
Can't speak right now?
Ask your question in the chat.
Widget callback