Original title: Saudi Arabia announced the extension of voluntary crude oil production cuts, international crude oil prices rose sharply Source: CCTV News Client
Saudi Energy Minister Abdulaziz bin Salman announced during the 14th meeting of the oil ministers of the Organization of Petroleum Exporting Countries (OPEC) member states and some non-OPEC oil-producing countries on the evening of March 4, local time. , To extend the period for Saudi Arabia’s voluntary crude oil production cut by 1 million barrels per day by one month to the end of April this year. After the news came out, international oil prices rose rapidly in the short term. The prices of West Texas light crude oil in the United States and Brent crude oil in the United Kingdom both hit their highest levels in more than a year.
As the world’s largest crude oil exporter in 2020, Saudi Arabia’s every move in crude oil production has attracted global attention. Earlier, Saudi Energy Minister Abdulaziz promised that in addition to strictly complying with the production reduction agreement reached by OPEC member countries and some non-OPEC oil-producing countries, Saudi Arabia will reduce its crude oil production by an additional 1 million barrels in February and March 2021. To ensure the balance of supply and demand in the global market. Statistics show that in the past February, Saudi Arabia achieved an additional reduction of about 850,000 barrels per day. According to the OPEC survey, as of December 2020, the crude oil inventories of OECD countries have fallen for the fifth consecutive month. (Headquarters reporter Li Chao)
(Edited by Dai Genhua)
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