Saudi Arabia Says it will Increase Oil Production in July

Saudi Arabia has made plans to increase its oil production by an additional 200,000 barrels a day, bringing their total daily production to nearly 10 million barrels.

The news was announced after UN secretary general Ban Ki-Moon met with Saudi Arabia’s oil minister Ali al-Naimi on Sunday.

Saudi Arabia had increased its oil production by 300,000 barrels in May.

According to reports the Saudi kingdom has recognized the rising price of oil has been unnatural and plans to speak with other oil producing countries to bring the price down.

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