Saudi Arabia’s Ministry of Industry, Energy and Mineral Resources has said the country will further increase its oil production from May; the most recent measure in the coronavirus oil price war.
The ministry gave a brief statement saying the country will produce 10.6m barrels a day from May. This is a 600,000 barrel increase from current production levels.
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In a statement, the ministry said: “This increase came as a result of displacing crude with natural gas from the Al-Fadhili gas plant, as a fuel for generating electricity, and from the decrease in local demand for petroleum products due to the decrease in transportation from the precautionary measures in place to limit the coronavirus outbreak.”
