Saudi Arabia ready to cut 40 million barrels per day in oil production

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Mumbai, Apr 9, 2020, Thursday

Crude oil prices have plummeted to a five-year low as crude oil prices have plummeted to a five-year low following a virtual meeting ahead of a virtual meeting being held today by OPEC and other oil producers to cut production. Millions of barrels are ready to cut production.

It is worth mentioning that Saudi Arabia produced a record 3 million barrels of crude daily in April. It is said to be willing to cut Saudi Arabia's barrel production by a level. Non-OPEC countries, of course, say Saudi Arabia's production should cut production from the January-March level before the huge boom.

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