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7/16, 3:30 PM (Source: TeleTrader)
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S. Arabia to boost oil output to 13M bpd

Saudi Arabia's Crown Prince Mohammed bin Salman (MbS) stated on Saturday, during the summit in Jeddah, that the country will aim to up its oil production to 13 million barrels per day.

The crown prince added that once the output is boosted to this level, Saudi Arabia will not be able to produce over that amount. Since April 2022, Riyadh has been putting out a bit over 10 million barrels per day.

Previously, Mohammed bin Salman underlined that "unrealistic" energy policies will only worsen the future of the global economy and exacerbate inflation.

Baha Breaking News (BBN) / AY