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An American appeal to Saudi Arabia to reduce oil production

Rocky

Rocky: Admin Assist; Posts : 268390
Join date : 2012-12-21

Post n°1

An American appeal to Saudi Arabia to reduce oil production

by Rocky Sun 12 Apr 2020, 1:48 am

An American appeal to Saudi Arabia to reduce oil production

Sunday 12, April 2020 09:32 | Economicreadings: 22

[rtl]Baghdad ( NINA ) - Republican members of the American Senate phoned three officials in the Kingdom of Saudi Arabia and appealed to them to take concrete action to reduce oil production.

The calls of the American representatives came as international parties tried to secure the agreement of the "OPEC +" coalition on the largest reduction in oil production, in order to stabilize crude markets and prices around the world.

The organization reached, on Friday, an agreement to reduce crude production by 10 million barrels per day, from May to the end of June 2020.

But a meeting of energy ministers in the Group of Twenty countries later failed to agree to cut production.

However, the ministers pledged, in a joint statement, to take all necessary measures to ensure a balance of interests between oil producers and consumers, energy system security and energy flows without hindrance.

Oil prices fell to their lowest level in 18 years after the Corona virus closed economies worldwide, after Saudi Arabia and Russia, two of the largest producers in the world, increased their production in a race for a market share. / End 3[/rtl]

[rtl]https://ninanews.com/Website/News/Details?Key=823319
[/rtl]

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Established in 2006 as a Community of Reality

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An American appeal to Saudi Arabia to reduce oil production

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