Oil output from Saudi Arabia in April is expected to remain at the same level as March at 9.8 million barrels per day (bpd), Reuters quoted the Kingdom’s energy minister Khalid Al-Falih as saying.
“Saudi Aramco is finalizing their April allocations by Sunday so we will know more on Monday. But my expectation is that April is going to be pretty much like March,” Al-Falih said.
Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) and its allies such as Russia is scheduled to meet in Vienna on April 17-18 and another gathering is scheduled for June 25-26.
“We will see what happens by April if there is any unforeseen disruption somewhere else but barring this I think we will just be kicking the can forward,” Falih said.
“We will see where the market is by June and adjust appropriately,” he added.
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