Saudi Arabia and Russia ratcheted up an escalating oil-market war, with Riyadh raising output and Moscow saying it was ready to pump more crude, too
Saudi Arabia and Russia ratcheted up an escalating oil-market war on Tuesday, with Riyadh raising output and Moscow saying it was ready to pump more crude, too.
State-run Saudi Arabian Oil Co. said it would boost production to 12.3 million barrels a day in April. That is some 300,000 barrels a day over the company’s previous, maximum sustained capacity of 12 million barrels a day.
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