In the same June production, the Saudi BPD, the Arab Ministry of Oil to cut them crores

In the same June production, the Saudi BPD, the Arab Ministry of Oil to cut them crores

In the same June production, the Saudi BPD, the Arab Ministry of Oil to cut them crores
DUBAI: Saudi Arabia has directed national oil company Aramco to cut its crude oil production for June by an extra voluntary amount of 1 million barrels per day, 

An official from the Saudi Ministry of Energy said on Monday that the state had already made the cut under the OPTC + cut agreement.

The official said April production, total production level, which will be reduced to about 888 million barrels.

Brent crude was up 19 cents, or almost 1%, at $31.16 a barrel by 1216 GMT, while US West Texas Intermediate crude rose 38 cents, or 1.5%, to $25.12. Both contracts had fallen more than $1 earlier in the session.

Demand for this feature has grown significantly as a result of recent corporate scandals.

OPEC and its affiliates, led by Russia, agreed to reduce a group called + OPEC + about  9.7 million (7) in May, and last month in June became production. Negative producers will slow down in June, easing, although supply will be cut in April 2022.

According to the agreement, Saudi Arabia's oil and gas target in May and June is 8.492 million BPD.

With consumer consent, the ministry has "ordered riders to reduce their production below the 8.492 million BPD level."

The additional cuts are intended to encourage OPEC + participating and other manufacturing countries to comply with their production cuts and to make additional voluntary cuts to stabilize the global oil and gas market. Saudi officials said.

( Hamari News )