Oil Production In Saudi Arabia To Jump 20%

HFA Padded
HFA Staff
Published on
Updated on

Saudi Arabia has announced plans to increase production of crude to 15 million barrels a day by 2020. The Gulf nation currently produces 12.5 million barrels of the commodity. According to a Bloomberg report, the increased production will allow the country to export as much as 20 million barrels of crude per day. Oil production is a sensitive strategic issue¬†for those countries where production of the fuel makes up a large part of their economic activity. If oil supplies are kept low, the price will rise and the world may move to alternative energy sources, but if it is allowed…

On This Page

Login if you are HedgeFundAlpha Subscriber.

HFA Padded

The post above is drafted by the collaboration of the Hedge Fund Alpha Team.