Saudi Arabia has increased oil exports in June 2016 1.2% year on year to 7.4 million barrels a day, data from the Joint Organization Data Initiative (JODI).
Compared to may, exports grew by 2.2%, the index rose for the first time since the beginning of the year, reports TASS.
Oil production in Saudi Arabia in June amounted to 10,55 million barrels a day, rising for the first time since June of last year (10.56 million barrels). Compared to may the index rose 2.7%.
Earlier this week, a Saudi researcher and economic adviser Yusef al-Zamil expressed the belief that talking about the end of the oil age before, and the meeting of member countries of OPEC with other producers can help market.
“Oil is still the master of the sources of energy, I believe that alternative sources remain expensive and a little common. It is too early to talk about the end of oil,” said al-Zamil.
The expert noted that the fall in prices due to low demand for hydrocarbons, and this situation is widespread. “When demand will strengthen, revive the world economy, prices will again return to growth, they are now slightly improved,” says al — Zamil.
In addition, he noted that, despite the failure of the last meeting of OPEC and not of its member countries in Doha, such meetings can lead to results. “The meetings will be the outcome, but it will lead to balance in the market only after some time, after he strengthened and improved demand,” the economist added.
