Aramco to increase crude oil supply to 13 million barrels per day

The news comes after a statement on Tuesday that said Aramco would increase its crude oil supply to 12.3 million bpd in April. (File/AFP)
Short Url
Updated 12 March 2020
Follow

Aramco to increase crude oil supply to 13 million barrels per day

  • The output had already been increased to 12.3 million on Monday

DUBAI: Saudi Aramco, the world’s largest oil company, announced on Wednesday that it had received a directive from the Ministry of Energy to increase its output from 12 million to 13 million barrels per day (bpd).

The news comes after a statement on Tuesday that said Aramco would increase its crude oil supply to 12.3 million bpd in April – an increase of approximately 2.5 million bpd on the previous month.

The announcement - coming in the middle of unprecedented volatility in global energy markets - was preceded by a brief suspension of its shares on the Tadawul (the Saudi stock exchange), at its own request, as is required when a listed company is about to announce a “material event.”

The increase in crude production to record levels is in a bid to win market share in the global tussle over energy prices.

The move to increase output dramatically follows notification to customers that Aramco would offer big discounts around the world, and further ratchets up the pressure on global energy markets.

Tuesday’s announcement was followed by an immediate response by Russia, the world’s second biggest producer, with its own output increase.


Palestinian NGO condemns Israeli act of ‘revenge’ after prisoner abuse video

Updated 5 sec ago
Follow

Palestinian NGO condemns Israeli act of ‘revenge’ after prisoner abuse video

  • A Palestinian NGO has denounced what it called an Israeli act of revenge after a video showed far-right National Security Minister Itamar Ben Gvir overseeing the abuse of detainees in a military priso
RAMALLAH: A Palestinian NGO has denounced what it called an Israeli act of revenge after a video showed far-right National Security Minister Itamar Ben Gvir overseeing the abuse of detainees in a military prison.
Just days before the start of the Muslim holy month of Ramadan, Ben Gvir held a tour of Ofer Prison in the occupied West Bank, Israel’s Channel 7 reported.
In footage filmed on Friday and broadcast by the channel, around 20 police officers are seen storming a hallway leading to prison cells, brandishing their weapons and firing stun grenades.
They then pull five detainees from their cells, their hands tied behind their backs, forcing them face-down onto the floor.
The operation took place as a bill proposing the death penalty for Palestinian prisoners convicted of terrorism awaited a final vote in the Israeli parliament.
“This is all part of ongoing displays meant to take revenge on Palestinian detainees,” Abdallah al?Zaghari, head of the Palestinian Prisoners’ Club, told AFP on Saturday.
“Everything Ben Gvir and the far?right government are doing affects not only the Palestinian people and prisoners in detention camps — it also impacts the global legal and human rights system,” he added.
Ben Gvir, known for his inflammatory rhetoric, is considered one of the most hard-line members of Prime Minister Benjamin Netanyahu’s ruling coalition.
“It is simply a source of pride — arriving at a prison like this, a prison for terrorists, the vilest of the vile, seeing them like this,” Ben Gvir said in the video.
“I want one more thing: to execute them — the death penalty for terrorists,” he added.
Palestinian Islamist movement Hamas on Saturday said the remarks were “a new war crime and a blatant challenge to international humanitarian law regarding prisoners.”
International rights groups have repeatedly warned of alleged abuse and mistreatment inflicted in Israeli prisons since Hamas’s October 7, 2023, attack on Israel.
While the death penalty exists for a small number of crimes in Israel, it has become a de facto abolitionist country, with the Nazi Holocaust perpetrator Adolf Eichmann the last person to be executed in 1962.