Emirates news agency – Aramco cuts crude oil production by one million barrels per day in June

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Riyadh, May 11 / WAM / The Saudi Ministry of Energy directed Aramco to reduce its production of crude oil for next June with an additional voluntary amount of one million barrels per day, in addition to the reduction committed by the Kingdom in the last OPEC Plus agreement, on the twelfth of last April.

And an official source in the Saudi Ministry of Energy explained that with this new reduction, the size of the reduction that the Kingdom will adhere to, compared to its production rate in the month of April, is about 4.8 million barrels per day, and thus its production for the month of June, after the base and voluntary cuts, will be 7,492 million barrels per day.

And he pointed out that the ministry directed the company to seek to reduce its production in the month of May from the target level of 8,492 million barrels per day, in accordance with its customers.

The source emphasized that the Kingdom aims from this additional reduction to motivate the countries participating in the OPEC Plus agreement, and other producing countries to adhere to the rates of reduction that they have committed to, and to provide more reduction in their production, in an effort to support the stability of global oil markets.

Wam / Rayd / Asim Al-Khouly





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