Aramco increases its oil exports to a record level

0
59


The Saudi oil giant, Saudi Aramco, announced on Wednesday that it increased its exports of black gold to an unprecedented level, as it carried in one day 18.8 million barrels, despite the decrease in global demand for energy sources due to the economic slowdown caused by the Covid-19 epidemic.

“At a time when the world’s need for stability increases, our efforts continue to supply energy with unparalleled reliability and efficiency,” the group said in a statement.

“We are proud to load 15 tankers with 18.8 million barrels of oil,” she added.

This announcement comes after the end of the effects of an agreement concluded by the Organization of Petroleum Exporting Countries (OPEC) with other oil countries, led by Russia, with the aim of reducing production to raise the prices of black gold in global markets.

Thanks to this agreement, these countries have reduced oil production during the past two years to raise declining prices since 2014.

But during a meeting in Vienna in February, Riyadh called for an additional 1.5 million bpd reduction to counter the price deterioration caused by the Covid-19 epidemic, but Russia refused.





LEAVE A REPLY

Please enter your comment!
Please enter your name here