International News

International Oil Production Cuts

Author : Bozhou Marine

Update time : 2023-04-04 12:41:29

Several oil-producing countries announced on April 2 that they would voluntarily cut crude oil production from May until the end of 2023.

Saudi Arabia announced that it will voluntarily cut crude oil production by 500,000 barrels per day from May until the end of 2023;

The United Arab Emirates announced that it will cut 144,000 barrels;

Kuwait announced that it will cut 128,000 barrels;

Iraq announced it would cut 211,000 barrels;

Algeria announced it would cut 48,000 barrels;

Kazakhstan announced it would cut 78,000 barrels;

Oman announced it would cut 40,000 barrels;

Russia announces extension of 500,000 barrels per day cut in oil output until end of 2023.

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