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Analyzing Saudi Arabia’s Crude Oil Production Cut Plan

Analyzing Saudi Arabia’s Crude Oil Production Cut Plan

Saudi Arabia is OPEC’s largest oil producer. According to the EIA, Saudi Arabia’s crude oil production increased by 20,000 bpd (barrels per day) to 10,080,000 bpd in April—compared to the previous month. The production also increased by 100,000 bpd or 1% from a year ago.