09 May 2012
(MENAFN) Saudi Petroleum and Mineral Resources Minister, Ali Al-Naimi, announced that at the current time, the Kingdom is producing about 10 million barrels per day (bpd) of oil, reported Arab News.
Al-Naimi also said that the country is storing 80 million barrels in case any
sudden disruption in supplies occurs.
The minister added that the current output is the same as last month, the highest since November; moreover, Saudi has a spare capacity of 2.5 million bpd.
It is worth noting that worries over supply disruptions boosted Brent prices by 20 percent since the start of 2012, reaching a record of more than USD128 in March.
27 Jan 2025
BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more