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Saudi Arabia to increase oil production next month

13.07.2020,12:57


July 13, Fineko/abc.az. Saudi Arabia and most of the countries participating in the OPEC+ agreement support the idea of increasing oil production against the backdrop of growing demand.

ABC.AZ reports that at the meeting to take place in the next few days in the format of a video conference of OPEC and OPEC+ participants, the parties will discuss the situation in the energy market and the future of the agreement reached.

Before the meeting, the official Riyadh proposed to increase oil production in August, and to reduce quotas by 2 million bpd (from 9.7 million barrels to 7.7 million barrels). This proposal was supported by the majority of OPEC+ participants.