Business & Economy

Saudi Arabia denies discussion of increasing oil production

Saudi Arabia’s energy minister categorically denied Riyadh’s discussion with OPEC producers increased oil production by 500 thousand barrels per day.
“If there is a need to reduce production to balance supply and demand, we will remain ready to intervene.”
The current oil production cut of 2 million barrels per day (bpd) continues until the end of the 2023.

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