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| 19 July, 2018

Saudi Arabia shrugs off Trump’s oil output demands

The Saudi production will be decreased by 100,000 bpd in August

Close-Up Of Woman Refueling Car
Photo Taken In Aachen, Germany

Close-Up Of Woman Refueling Car Photo Taken In Aachen, Germany

Getty Images/ Classen Rafael / EyeEm
Riyadh –  Saudi Arabia is reportedly planning to stabilise its oil production in July, despite President Trump’s call for more oil output to keep prices in check.

The Saudi production will be decreased by 100,000 barrels per day (bpd) in August, the county’s OPEC governor Adeed Al Aama stated, the Dow Jones reported, according to CNBC.

Saudi Arabia increased its oil output to 10.7 million bpd in June, 0.7 million bpd up from May’s production.

In May, the President of the United States Donald Trump announced the US withdrawal from the Iran nuclear deal.

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The US urged all importers to cut oil purchases from Iran to “zero” by 4 November, or they might face sanctions.

Members of the Organization of Petroleum Exporting Countries (OPEC) stated in June that they agreed on increasing their oil production.

Source: Mubasher

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