Saudi Arabia intends to invest $20 billion in reserve capacity for oil production

The energy minister of Saudi Arabia, Khalid-al-Falih, said that in the next few years, the country's authorities intend to send $20 billion to maintain and expand reserve capacity for oil production. Earlier, he announced plans to increase oil production in November relative to October to meet growing demand. It is expected that in two months to October oil production in the country will grow by 200 thousand-300 thousand barrels per day. The minister, nevertheless, believes that in 2019 the growth of supply from the US will grow, and next year Saudi Arabia will have to limit oil production.

05.10.2018
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