Shock and awe’ at surge in Kingdom’s oil output Saudi Aramco boosts supply to record levels

Shock and awe’ at surge in Kingdom’s oil output Saudi Aramco boosts supply to record levels

Saudi Aramco boosts supply to record levels. DUBAI: Saudi Arabia is to boost its oil output to record levels in a move that prompted "shock and awe" in global energy markets on Tuesday.. Russia will also raise output to unprecedented levels, with an increase of up to 500,000 barrels a day bringing total production to 11.8 million barrels.. Kremlin spokesman Dmitry Peskov did not rule out a compromise on output levels, although he admitted volatility in global energy markets could continue "for some time.". Aramco to increase crude oil supply to 13 million barrels per day /node/1639981/business-economy. The news comes after a statement on Tuesday that said Aramco would increase its crude oil supply to 12.3 million bpd in April - an increase of approximately 2.5 million bpd on the previous month.. The announcement - coming in the middle of unprecedented volatility in global energy markets - was preceded by a brief suspension of its shares on the Tadawul (the Saudi stock exchange), at its own request, as is required when a listed company is about to announce a "material event.". The increase in crude production to record levels is in a bid to win market share in the