What is the free production capacity of Saudi Arabia and what do we expect from them "OPEC+".. the expert told RT about the future of oil

Energy expert Boris Martsinkevich spoke about the situation on the world oil market, especially in light of the convening of the OPEC+ group next week to discuss the situation on the energy market.

The expert said in an interview with RT as part of the “Newsmaker Program” today, Friday, that it is unlikely that Saudi Arabia will increase oil production, since Riyadh is interested in maintaining oil prices at a high level and is not interested in lowering prices.

The expert pointed out that Russian Deputy Prime Minister Alexander Novak held a meeting today in Riyadh with Saudi Energy Minister Prince Abdulaziz bin Salman.

Regarding the free production capacity of OPEC oil-producing countries such as Saudi Arabia and the UAE, the expert indicated that Saudi Arabia is able to increase oil production by 1.2 million barrels per day within 90 days, and the UAE – by 800,000 barrels per day. day.

On August 3, 2022, the countries of the OPEC+ group intend to hold a meeting to discuss the future of the OPEC+ agreement, which aims to limit production in order to achieve stability in the oil market.

Source: RT