Saudis are ready to cut oil production if others do the same

An emergency meeting of the countries participating in the OPEC + transaction will be held on April 6 to discuss stabilization of the oil market. It could be a reduction of up to six million barrels per day.

Saudis are ready to cut oil production if others do the same
EL-SHARARA, LIBYA – JUNE 5: A Repsol Oil Operations oil drilling rig pounds into the desert searching through thousands of feet for and oil reserve on June 5, 2004 in El-Sharara, Libya. With the lifting of US sanctions earlier this year, American oil companies, eager to find other avenues for oil exploration have begun negotiating with the Libyan government to return to its vast oil fields. (Photo by Benjamin Lowy/Getty Images)

Saudi Arabia is ready to reduce, provided that other oil-producing countries reduce the production of black gold and adhere to the agreement.

“We are ready to reduce oil production, provided that other countries, especially Russia, will participate in this,” said Mohammed al-Sabban, Advisor on International Economics and the Oil Market.

Earlier, Russian President Vladimir Putin said that the countries should unite in the context of the coronavirus pandemic, which also greatly affected the demand for oil and gas. According to him, Russia is ready to cooperate with the United States and reduce the production of black gold by 10 million barrels per day.

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