Goldman Sachs: Saudi crude oil output is expected to increase by 500,000 barrels per day by the end of this year

According to foreign news on June 15, Goldman Sachs (GOLDMAN SACHS ECONOMICS RESEARCH) said in a report on Tuesday that it is expected that by the end of this year, Saudi crude oil output is expected to increase by 500,000 barrels per day to 10 million barrels per day
.


The report also stated that oil prices are expected to rise further above US$70 per barrel, and oil prices are facing upward pressure
.


The bank analyst Farouk Soussa said that in 2022, Saudi Arabia's crude oil production is expected to further increase to 10.
5 million barrels per day
.


The report predicts that Saudi Arabia's economy is expected to grow by 4.
5% this year.
The previous economic growth rate was estimated at 2.
5%
.


According to the report, Saudi Arabia's economy is expected to grow by 7% next year
.


Data show that Saudi Arabia’s crude oil production in May was 8.
5 million barrels per day, and it is expected to increase to 9.
5 million barrels per day in July because OPEC is relaxing output restrictions
.