Guidance to Aramco to cut oil production in June “by voluntary amount”

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Aramco To lower their production from Crude Oil In June, a voluntary additional amount, amounting to one million barrels per day, exceeding the commitment of the Kingdom in the OPEC + agreement, on April 12.

He added "Thus, the size of the reduction that the Kingdom will adhere to, compared to its production rate last April, will be about (4,8) four million and 800 thousand barrels per day.".

He continued "Therefore, its production for June, after the basic and voluntary cuts, will be seven million and 492 thousand barrels per day".

The news agency quoted Saudi The official said that the ministry directed Aramco to work also to reduce the current May production from the target level of 8.492 million barrels per day, in agreement with clients.

The source pointed out that Saudi Arabia aims from this additional reduction to motivate the countries participating in the agreement OPEC +, And other producing countries, to abide by the rates of reduction they have committed to, and to offer more reductions in their production, in an effort to support the stability of global oil markets.

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An official said the Energy Ministry has directed Aramco To lower their production from Crude Oil In June, a voluntary additional amount, amounting to one million barrels per day, exceeding the commitment of the Kingdom in the OPEC + agreement, on April 12.

He added, “By this, 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) four million and 800 thousand barrels per day.”

He continued, “Therefore, its production for the month of June, after the basic and voluntary cuts, will be seven million and 492 thousand barrels per day.”

The news agency quoted Saudi The official said that the ministry directed Aramco to work also to reduce the current May production from the target level of 8.492 million barrels per day, in agreement with clients.

The source pointed out that Saudi Arabia aims from this additional reduction to motivate the countries participating in the agreement OPEC +, And other producing countries, to abide by the rates of reduction they have committed to, and to offer more reductions in their production, in an effort to support the stability of global oil markets.







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