SAUDI ARABIA TO TRIM OIL EXPORTS FURTHER IN FEB
Last Updated: 2019-01-10
Decrease Font Size Increase Font Size

RIYADH, Saudi Arabia, Jan 10 (NNN-SPA) - Top oil exporter, Saudi Arabia, plans to lower its shipments further, in Feb, as it follows through on a global deal, to cut output to prevent a build-up in supplies.

Saudi Energy Minister, Khalid al-Falih, told a news conference in Riyadh, on Wednesday, that, the kingdom would export 7.1 million barrels per day (bpd) in Feb, down from 7.2 million bpd in Jan.

He also said, Saudi Arabia was producing 10.20 million bpd, delivering on an earlier pledge, to cut output further than required, by a supply-limiting deal between the Organisation of the Petroleum Exporting Countries (OPEC) and allies, such as Russia.

Saudi Arabia had a target to lower output to 10.311 million bpd as of Jan 1, when the supply cut accord took effect.-- NNN-SPA