Saudi Arabia intends in June to halve its oil exports to Europe and the United States, and reduce by a third delivery in a number of Asian countries. This was reported Bloomberg, citing its sources.
According to the Agency, in an easterly direction over total exports of Saudi oil will be reduced for buyers in China and India.
the Reduction in supply due to reduced oil production under the deal, OPEC+, and Saudi Arabia’s plans further in June to reduce production beyond its quota by 1 million barrels per day to 7.5 million barrels per day. Previously, under the terms of the agreement OPEC+, Saudi Arabia were to cut production, along with Russia, to 8.5 million barrels per day.
Production of oil in Saudi Arabia in April reached 12.3 million barrels per day. Thus, in June the cumulative decline in production in the Kingdom will amount to 4.8 million barrels per day. In addition to Saudi Arabia about further production cuts announced UAE 100 thousand barrels per day and Kuwait – on 80 thousand barrels a day.
