Saudi Arabia Announces Biggest Oil Production Surge In 30 Years – 17 April 2015

RT logoUndisputed leader of OPEC, Saudi Arabia, increased daily oil production by 658,800 barrels in March to an average of 10.294 million barrels a day, says data the country gave to the Organization of Petroleum Exporting Countries’ secretariat in Vienna.

This volume is more than the kingdom’s 10.2 million barrels per day(bpd)in August 2013, and output will continue to hover around 10 million bpd , Saudi oil minister Ali al-Naimi told reporters last week.

The sheer size of this growth is equal to about half the daily production in the US Bakken shale formation in North Dakota, Bloomberg noted. The shale oil field is estimated to have the most oil reserves in the US.

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