Saudi to raise oil exports to record levels as price war rages

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With oil prices already at 17-year lows, Saudi Arabia announces it is ramping up exports beginning May.

, said it will add additional supplies to the global market, deepening a glut.

Saudi Arabia had been exporting around 7 million bpd under an output reduction agreement among a 24-member producers' alliance known as OPEC+ which included Russia.has also pledged to pump at least one million bpd more from next month.

 

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