Amid the price war, Saudi Arabia announces an increase in its oil exports

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Saudi Arabia announced on Tuesday that it plans to raise its oil exports to more than 10 million barrels per day, with Riyadh escalating the oil war with Russia.

A spokesman for the Saudi Energy Ministry said in a statement that Saudi Arabia “will use the gas produced from the Al-Fadhli Gas Plant to replace about 250,000 barrels per day of domestic oil consumption.”

According to the statement, this “will enable the Kingdom to increase its crude exports during the next few months to exceed ten million barrels per day.”

Saudi Arabia announced last week that it would increase its daily production of crude by adding 2.5 million barrels of oil per day, with the aim of raising production to 12.3 million barrels in April.

Saudi Aramco President Amin Al-Nasser announced on Monday that the oil company will use its stocks to add 300,000 barrels to its daily production of crude in order to raise it.

The Al-Fadhili Gas Plant, which is affiliated with Aramco, is currently producing 1.5 billion cubic feet of gas per day, while Aramco says it will increase to 2.5 billion cubic feet during the coming months.

This will raise Saudi gas production to 12.2 billion cubic feet per day, which means more oil will be available for export.





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