UPDATE 1-Saudi Arabia to keep oil supply at 12.3 mln bpd for coming months - ministry - Reuters:
Saudi Arabia’s energy ministry said on Wednesday it has directed national oil company Aramco to continue to supply crude oil at a record rate of 12.3 million barrels per day (bpd) over the coming months.
The top oil exporter has said it will boost its crude supply in April to that level, and its oil exports are set to top 10 million bpd from May, also a record high.
On Monday, Saudi Aramco said it was likely to sustain higher oil output planned for April in May, and that it was “very comfortable” with a price of $30 a barrel, signalling the state oil company is prepared to live with low prices for a while.
Saudi Arabia said last week it would launch a programme to boost production capacity for the first time in more than a decade, signalling to Russia and other rivals it was ready for a long battle over market share.
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