What is Saudi Arabia going to do in April? Big announcement
Riyadh: The Organization of the Petroleum Exporting Countries (OPEC Plus) has announced that Saudi Arabia will produce one million barrels less oil per day in April 2021.
As a goodwill gesture, Saudi Arabia has decided to extend oil production by another 1 million barrels during April, according to a foreign news agency report. The Saudi government informed the members of APEC Plus of its decision.
OPEC Plus says the government’s decision as a goodwill gesture will help resolve oil issues. Saudi Energy Minister Prince Abdulaziz bin Salman has said that the agreement to increase oil quotas is important for the improvement of oil in the world market.
It may be recalled that the 14th meeting of OPEC Plus ministers was held on Thursday in which an agreement was reached to reduce oil production, after which the price of 1 barrel of crude oil increased by 3 3.
