Saudi Arabia to Pump 9 Million Barrels of Oil in 2011

Source: Bloomberg 5/2/2011, Location: Middle East

Saudi Arabia’s oil production may reach 9 million barrels per day on average in 2011 as global demand increases, said an official at National Commercial Bank, Saudi Arabia’s largest bank by assets.

Average prices for Saudi’s crude are expected to reach $95 per barrel, Said A. al-Shaikh, the Jeddah-based lender’s senior vice president and its chief economist, said in a telephone interview today.

Saudi Arabia, the world’s biggest oil exporter, reduced its output by 800,000 barrels per day in March after raising it to over 9 million in February, Oil Minister Ali al-Naimi said last month. The kingdom produced 8,292,100 barrels a day in March and it will probably go a “little higher in April,” he said.

Saudi Arabia pumped 9.02 million barrels of crude a day in February, up 5.9 percent from the previous month, according to official data posted April 17 on the Joint Organization Data Initiative’s website.


Qatar >>  7/20/2022 - Milaha, the industry-leading provider of maritime and logistics solutions in Qatar, has announced a significant five-years contract award with an opti...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.