saudi says committed to oil market stability
Wednesday 16 July 2025
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Saudi says 'committed' to oil market stability

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleSaudi says 'committed' to oil market stability

Commuters drive down a main street in 2016 inl Riyadh
Riyadh - AFP

Saudi Arabia is committed to stabilising the global oil market, the energy ministry of the world's biggest oil exporter said on Tuesday, as prices fell below $48 a barrel.

OPEC and non-OPEC countries last year pledged to reduce output by around 1.8 million barrels per day (bpd) as part of a concerted effort to curb a global oil glut.

Saudi Arabia "is committed and determined to stabilise the global oil market by working closely with all other participating OPEC and non-OPEC producers", the energy ministry said in a statement.

An OPEC report released Tuesday said that Saudi Arabia reported an increase in oil production for February, saying it pumped 10.011 million bpd last month, up from 9.748 million bpd in January.

But the energy ministry said the amount of crude it supplied to the market in February was 9.9 million bpd, down from 9.99 in January.

"The difference between what the market observes as production, and the actual supply levels in any given month, is due to operational factors that are influenced by storage adjustments and other month to month variables," it said.

Kuwaiti Oil Minister Essam al-Marzouk, head of a committee overseeing the decreases in oil production, said last week that OPEC compliance with the output reductions had exceeded the target because of higher Saudi cuts, but non-OPEC compliance has been modest.

source: AFP

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi says committed to oil market stability saudi says committed to oil market stability

 



Themuslimchronicle, themuslimchronicle

GMT 01:18 2012 Friday ,14 September

Al-Qaeda flags in Cairo

GMT 12:17 2017 Tuesday ,11 July

Fadl Shaker could face trial in Lebanon

GMT 07:58 2018 Wednesday ,17 January

Federer and Djokovic take control

GMT 09:24 2017 Tuesday ,21 November

Family ends row over legacy of artist Arman

GMT 04:40 2011 Friday ,28 October

Mazda 787B: Four-rotor motor

GMT 10:11 2017 Monday ,24 April

OPEC news

GMT 07:47 2017 Sunday ,23 April

Actress Reham Abdel Ghaffour reveals her role

GMT 08:17 2018 Tuesday ,23 January

Chinese fans fear crackdown on hip hop

GMT 03:18 2017 Wednesday ,22 March

17 arrested over sewage station protests in Sohag

GMT 08:25 2017 Monday ,06 November

Mohamed saad considers new drama offers

GMT 07:42 2017 Saturday ,26 August

France faces worst wine harvest since 1945

GMT 19:17 2017 Monday ,18 December

Mayor of Libya’s Misrata abducted and killed

GMT 00:46 2017 Thursday ,30 March

Premier Li's Oceania visit

GMT 17:38 2017 Monday ,23 October

Wiggins, Timberwolves silence Thunder

GMT 09:01 2014 Friday ,18 April

Egypt pulls Lebanese star\'s movie

GMT 14:26 2017 Tuesday ,21 February

South Korean striker Ha Tae-Goon may leave Yanbian

GMT 12:43 2015 Thursday ,17 September

Rain to help in fight against California fires

GMT 12:13 2012 Monday ,19 March

I haven\'t got divorced!

GMT 15:56 2011 Tuesday ,09 August

Aussie scrum-half Genia wary of \'new\' Springboks

GMT 10:26 2011 Monday ,07 November

Palestine under cyber-attack

GMT 15:41 2012 Monday ,06 February

2012 Audi A4
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle