Saudi Arabia plans to increase oil exports to 10.6mn bpd in May
RIYADH — Saudi Arabia is planning to increase its crude oil exports by about 600 thousand barrels per day, taking the total to 10.6 million barrels per day, starting from May, Saudi Press Agency reported on Monday quoting a Saudi energy ministry official. The planned increase in oil exports is due to burning less oil for power generation at home and lower domestic consumption, the report said.
“This increase came as a result of displacing crude with natural gas from the Al-Fadhili gas plant, as a fuel for generating electricity, and from the decrease in local demand for petroleum products due to the decrease in transportation from the precautionary measures in place to limit the coronavirus outbreak,” the official was quoted as saying.
