Saudi Aramco Starts Cutting Output Ahead of May 1 OPEC+ Target

Parvin Faghfouri Azar April 25, 2020 Oil, Top News Leave a comment 12 Views

Saudi Aramco started reducing production earlier this week ahead of the May 1 deadline when new OPEC+ output targets kick in, according to a Saudi industry official familiar with the matter.
Aramco started to reduce production from about 12 million barrels a day to achieve the new level of 8.5 million barrels a day, the same person said, asking not to be named discussing non-public information. Aramco is likely to be pumping at the 8.5 million barrels a day target slightly ahead of the May 1 target, the person added.

Tags

About Parvin Faghfouri Azar

Check Also

China’s Gas Demand Surges with Urban Growth and LNG Boom

China has been the focus of oil traders’ attention for years thanks to its seemingly …

Leave a Reply

Your email address will not be published. Required fields are marked *

Design & Developed by: Arya Media Group
© 2020 | All Rights Reserved by ARYA MEDIA GROUP.