The American agency states that this move by Saudi Arabia will lead to an additional tightening of relations between Washington and Riyadh.
Starting from May until the end of 2023, Saudi Arabia will reduce oil production by 500,000 barrels per day, which will probably increase the prices of this energy product on the world market.
The Minister of Energy of Saudi Arabia, Abdulaziz bin Salman Al Saud, said that oil production will be reduced in cooperation with some countries of the Organization of the Petroleum Exporting Countries (OPEC) and some countries outside OPEC, without specifying which countries.
According to the ministry, this reduction in production is a “preventive measure”, necessary to stabilize the market, reports AP.
The American agency states that this move by Saudi Arabia will lead to an additional tightening of relations between Washington and Riyadh.
The US has previously called on Saudi Arabia and other allies to increase oil production. Washington is trying to lower oil prices and thus reduce Russian revenues from the export of this energy product, the Tanjug agency reported.
Source: Slobodna Bosna
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