Saudi Arabia to increase oil exports to 10.6 mln bpd in May: Energy Ministry

A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia, on October 12, 2019. (File photo: Reuters)

Saudi Arabia plans to boost its crude oil exports to 10.6 million barrels per day starting from May due to burning less oil for power generation at home and lower domestic consumption, a Saudi energy ministry official said on Monday.

“This increase came as a result of displacing crude with natural gas from the Al-Fadhili gas plant, as a fuel for generating electricity, and from the decrease in local demand for petroleum products due to the decrease in transportation from the precautionary measures in place to limit the coronavirus outbreak,” the official said.

Last Update: Monday, 30 March 2020 KSA 14:20 - GMT 11:20