Shipments of Saudi Arabian crude oil will fall by one million barrels per day (bpd) in January to 7.3 million bpd, according to sources. The drop is the first since September and follows a sharp decline from last month when it fell below 7 million bpd... He also said Saudi Arabia would pump about 10.2 million bpd in January, down from about 10.7 million bpd in December. The forecasts followed an agreement by OPEC and its allies, including Russia, to cut oil production in order to support prices, despite President Donald Trump's desire to reduce the price of crude.
Shipments of Saudi Arabian crude oil will fall by one million barrels per day (bpd) in January to 7.3 million bpd, according to sources. The drop is the first since September and follows a sharp decline from last month when it fell below 7 million bpd... The forecasts followed an agreement by OPEC and its allies, including Russia, to cut oil production in order to support prices, despite President Donald Trump's desire to reduce the price of crude.