Saudi Arabia intends to dramatically cut on oil supplies next month. This is reported by the Bloomberg agency with the reference to the message of the Ministry of Energy of the Kingdom. The decision to sharply decrease oil exports was made after the recent visit of King Salman bin Abdul Aziz Al Saud to Moscow where he met the Russian President Vladimir Putin.

      According to the agency, the state oil monopoly “Saudi Aramco” will reduce oil exports by 560,000 barrels of oil per day next month, in order to reduce global oil reserves and stimulate demand. Currently Riyadh supplies about 7.7 million barrels per day; the reduction will reduce these volumes to 7.15 million.