Saudis to boost oil exports to 10 mn barrels per day

Saudi Arabia said on Tuesday it plans to boost oil exports to more than 10 million barrels per day as the OPEC kingpin escalates a price war with Russia.

The world's biggest crude exporter said it would free up an additional 250,000 bpd of oil for exports by using gas for domestic consumption.

"Saudi Arabia will utilise the gas produced by the Fadhili gas plant to compensate for around 250,000 bpd of domestic oil consumption," a spokesman for the Saudi energy ministry said in a statement without detailing how one would replace the other.

This "will enable the kingdom to increase its crude exports during the coming few months to exceed 10 (million bpd)."