Saudi Arabia oversees oil agreement on stage 2 of output cuts – ZAWYA

Saudi Arabia oversees oil agreement on stage 2 of output cuts – ZAWYA

saudi arabia oversees oil agreement on stage 2 of output cuts prince abdul aziz bin salman estimated that saudi arabia would consume an extra 500,000 barrels per day in the summer months    an oil tanker is being loaded at saudi aramco's ras tanura oil refinery and oil terminal in saudi arabia may 21, 2018. image used for illustrative purpose. dubai: the global oil alliance led by saudi arabia and russia agreed unanimously on wednesday to the second stage of a historic output agreement that has restored stability to crude markets.production will increase by 2 million barrels per day, most of that consumed in opec+ countries as their economies recover and domestic energy consumption rises over the summer."on the demand side, we see encouraging signs of improvement. economies around the world are opening up,“ said prince abdul aziz bin salman, the saudi energy minister and chairman of the ministerial committee that oversees the 23-country alliance.production will increase by 2 million barrels per day, most of that consumed in opec+ countries as their economies recover and domestic energy consumption rises over the summer.dubai: the global oil alliance led by saudi arabia and russia agreed unanimously on wednesday to the second stage