Oil production in Saudi Arabia has reached new records - the kingdom produces 11.2 million barrels of oil per day, writes Bloomberg, citing a source familiar with the situation.

In October, production in Saudi Arabia was 10.8-10.9 million barrels per day. Saudi Arabian production rose in response to higher demands from consumers who were preparing to cut off oil supplies from Iran because of US sanctions. The kingdom also uses oil from its own and foreign reserves, said agency sources.

Note that Bank of America has updated the outlook for oil prices.

Brent: In 2018, the average cost will be $ 74 per barrel. In 2019, it will cost $ 80.

WTI: In 2018, the average cost will be $ 64 per barrel. In 2019, it will cost $ 71.

Read also WORLD OIL PRICES DROPPED SIGNIFICANTLYWORLD OIL PRICES DROPPED SIGNIFICANTLY

Նյութի աղբյուրը՝ FreeNews.am