Saudis will increase oil production


Saudi Arabia announced that they will increase production of oil in comming months which is reverse of their policy of cutting down the production to keep the prices high and avoid crash like last year. Oil was going up latelly thanks to supply cuts which even worsen when cold weather hited Texas and resulted in 500,000 to 1,2 million barrels per day shortage. Saudi Arabia will plan to increase is on next OPEC+ meeting on 4th of March and its expected that Russia will do so as well as they wanted to increase production already. (Said, Wall Street Journal)

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