The kingdom’s output averaged 10.2 million barrels a day between January and March, up 20 per cent year-on-year.Production is meant to keep growing until at least September, when the current agreement between the Organisation of Petroleum Exporting Countries and its partners – a 23-nation group led by the Saudis and Russia – expires.
Saudi Arabia is one of the few major petroleum producers trying to boost output capacity significantly. Many others are cutting back on exploration as they shift to renewable energy to try to curb their greenhouse gas emissions. The Saudis have blamed the run-up in prices on the fall in investment and say the demand for oil and gas will stay strong for decades.
Saudi is not helping Biden 1 bit with the oil crunch Salman is helping Putin and keeping oil price high
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