(Reuters) – Saudi Arabia is ready to cut up to 4 million barrels per day (bpd) of its production but only from its record output levels of 12.3 million bpd achieved in April, a source briefed on the kingdom’s oil policy said on Thursday.
OPEC and other producers meet on Thursday to decide on cuts to cope with the falling demand due to the coronavirus crisis. Non-OPEC Russia has said it wants output to be cut from the January-March levels before Saudi production jumped.
