OPEC+ agreed to hold output largely steady, while Saudi Arabia announced an additional voluntary cut of 1 million bpdSouth Belridge Oil Field is the fourth-largest oil field in California and one of the most productive in the U.S.Al-Mazrouei said there are still many barrels of oil in storage and the market is not balanced yet.
"We continue drawing down on the inventories until we reach some reasonable levels, and hopefully that will be done by … the timeframe that we set, which is April 2022," he said. "I'm optimistic that we would reach it before [that]," he added. "But let's say, even if it takes us … to that date, then I think that will take us to balance."
Oil prices have somewhat recovered on the back of vaccine hopes and production cuts, but are still down from pre-Covid levels and
Sleepy Joe !
Why was Trump banned?