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A huge red oil rig labelled Borgholm Dolphin of saudi

Saudi Arabia floats a range of ideas for OPEC production boost

Saudi Arabia, the world’s largest exporter of oil, has put forth several plans for a hike in the production of oil to the other OPEC members, as it aims to bridge the gap with Russia. Saudi Arabia has put up different scenarios to raise the oil output including a two-step hike to smoothen the effect of the increase. The ideas have been discussed informally among the delegates and ministers as it faces solid opposition from Iran, Iraq and Venezuela.

Source: World Oil

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