SunSirs: Energy, the Volume of Crude Oil Reached a High Record before the Implementation of the Production Reduction Agreement
May 12 2020 10:19:24 SunSirs (Selena)
OPEC+ began to implement the production reduction agreement in May, but the energy survey found that crude oil production in the UAE, Saudi Arabia and Kuwait soared to a record high level in April because there was no need to reduce production, and the growth even exceeded the scale of production losses in Iraq, Angola and Iran. According to the latest data, Saudi Arabia's crude oil production reached 11.7 million barrels/ day in April, up nearly 2% from March. The country now needs to cut production by 3.21 million barrels/ day to meet the quota. Kuwait's crude oil output in April was 3.15 million barrels/ day, and the output needed to be reduced by 980,000 barrels/ day.
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