Saudi Arabia raise its oil production in response to global demand growth

Riyadh / clarified oil sources, to increase the production of Saudi crude oil, to 10.3 million barrels a day, in response to the growth in global oil demand, which is expected to achieve an increase of 2.01 million barrels per day, during the current year 2015, up from 92.66 million barrels per day, to 94.67 million barrels per day, as a result of the improved performance of the industrial sectors in a number of industrialized countries, especially Asian countries with growing economies, which achieved a remarkable recovery in various fields.

The sources pointed out that the Kingdom is always a balance between the production rates and the level of global demand for oil movement to maintain the price paths when bands be useful for producers and consumers, and taking into account the bridging market need of energy sources in order to avoid any shortages could hamper the development or Aiqaqr made the growth of the economy Global, as it produces rates ensure that dumping and pummeling prices to the detriment of producers.

The sources ruled out that the amount of oil production Kingdom targeting the exclusion of producers from the market or they are based on political factors.

Confirmed that the oil commodity trading be handled purely economic criteria, put at the top of priorities of economic interests and maximize the benefits of oil revenues, including the benefit of the country and the interest of the people.

She explained Bulletin "Oil Price" oil and energy specialist, that the impact of lower oil prices began to show clearly on the rock oil producers, where it is expected that the shale oil production decline in the United States during the month of May this year, by 57 thousand barrels per day, given the decline in the number of rigs Petroleum, dedicated to the production of shale oil.

They expected to take advantage of "OPEC" This increase is to raise production to over 31.5 million barrels per day, which means the excess production capacity of the Organization to decline about 1.7 million barrels per day.