Cuban revolution in pictures: Early years of Fidel CastroWorld December 04, 16:49
Putin: Trump as president realizes quickly level of responsibilityRussian Politics & Diplomacy December 04, 13:46
Putin: attempts for uni-polar world fail, balance in the world restoresRussian Politics & Diplomacy December 04, 13:44
Bild: Eurovision 2017 may take place in MoscowSociety & Culture December 04, 10:45
Presidential election in Uzbekistan is validWorld December 04, 10:43
Russian Reconciliation center delivers over 150 tonnes of humanitarian cargo to AleppoRussian Politics & Diplomacy December 04, 7:46
Rally dedicated to Fidel Castro ends in Santiago de CubaWorld December 04, 6:43
Raul Castro says no streets will be named after FidelWorld December 04, 5:38
Cuban TV host says Fidel Castro admired Russian peopleWorld December 04, 5:17
KUWAIT CITY, April 8. /TASS/. Saudi Arabia increased the oil production in March to around 10.3 million barrels per day, the highest in the Joint Organizations Data Initiative database since 2002, Bloomberg has reported.
The report said this figure was unveiled by Saudi Arabia’s oil minister Ali al-Naimi on Tuesday at a conference in Riyadh. The minister however gave no grounds for boosting the oil output last month.
Several weeks ago, the minister promised to keep producing around 10 million barrels per day, the business news agency reported.
The previous record was established in August 2013 with an average of 10.2 million barrels per day.
Saudi Arabia’s King Salman bin Abdulaziz Al Saud announced plans on March 10 to continue developing oil and gas fields despite the falling oil prices. He said Saudi Arabia would build a "strong economy" that will be based on several sources of revenues.
After a meeting on November 27, 2014 in Vienna, the Organization of the Petroleum Exporting Countries (OPEC) decided to keep the daily oil production quota of 30 million barrels, which sent oil prices further down.
A month after the meeting, Algeria’s authorities sent a request for decreasing the level of production in an effort to stabilise prices. In late December 2014, the country’s Energy Minister Youcef Yousfi said OPEC had to intervene to correct the imbalances by cutting oil output to push prices up and defend incomes of the member-countries.