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FINANCIAL NEWS
Saudi Arabia increases oil pumping
31 Aug 2013
(MenaFn) Saudi Arabia increased oil pumping 1 million barrel per day during the period from April to the end of June and plans to pump 10.5 million barrel per day by the end of September, according to Gulf Daily News.
Gary Ross, chief executive of the US energy consultancy PIRA, said: “The reason they’re producing that much is simple – the world needs the oil. This is the tightest physical balance on the world oil market I’ve seen for a long time.”
The world will suffer crude shortage if the increase doesn”t happen resulting in higher oil prices.
More News
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BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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