Saudi Crown Prince Mohammed bin Salman (MBS) has confirmed at the opening of the Security and Development Summit held on Saturday in Jeddah, Saudi Arabia, that his country has decided to increase its oil production to 13 million barrels, an increase of 3 million barrels per day.
This statement is a violation of the terms of the recent OPEC meeting and if the Kingdom’s commitment to the Russian Federation not to increase its oil production.
MBS revealed at the beginning of his speech that his country has decided to increase its oil production to 13 million barrels per day. He added that his country will not be able to increase its oil production above this level.
