The Saudi Arabian Ministry of Energy has announced that crude exports will remain below 7 million barrels per day (mb/d) and crude production will stay under 10 mb/d during April 2018, according to Reuters.

The decision comes as part of Saudi Arabia’s strategy to lower global production and increase oil prices, Oil Price reported.

“Despite nominations coming in at 100,000 b/d, higher than the previous month, allocations were maintained on par with their March levels,” the ministry said in a press statement.

The Kingdom had previously committed to decrease crude oil production by 100,000 b/d and keep its oil exports under 7 mb/d in March 2018.

Saudi Arabia’s plan to balance the state budget predicts that oil prices will rise to $75 per barrel by 2023, Bloomberg previously reported.

Under the plan, oil revenues are projected to rise to 801.4 billion riyals ($213.7 billion) from the current 440 billion riyals.