Sunday 9 December 2018
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africanews - 24 days ago

Saudi Arabia wants oil-producing countries to reduce 2019 supply

The African Development Bank is providing a loan of $85 million towards the modernisation of Rabat-Salé airport in Morocco. The project financed by the African Development Bank will also strengthen the competitiveness and attractiveness of the area, enabling it to respond to the increase in air traffic, which is booming economically. On this edition of Business Africa, Leila Farah Mokaddem, representative of the African Development Bank in Rabat, Morocco, explains. Saudi Arabia wants a decrease in oil production As world oil production declines, Saudi Arabia is calling on producing countries to reduce their supply by 2019. According to oil production giants, global crude oil supply is expected to exceed demand in 2019. According to Saudi Energy Minister Khaled al-Faleh, it would be wise to reduce production by up to one million barrels per day per country.

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