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Saudi Arabia cuts oil output in February

Saudi Arabia cuts oil output in February
Output is expected to go down to less than 10 million bpd

Riyadh – Mubasher: The Saudi Arabian oil output declined in February, compared to the month before.

Last month, the oil production of OPEC’s de facto leader went down to 10.136 million barrels per day (bpd).

The Saudi output is expected to go down to less than 10 million bpd, informed sources told Reuters on Friday.

The decline in the kingdom’s oil production came in line with the supply-cutting pact inked by OPEC and its partners, including Russia, an alliance known as OPEC+, under which supply was reduced by 1.2 million barrels per day (bpd) in an attempt to boost prices.