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Oil: Saudi Arabia wants to exceed 13 million barrels per day by 2027

2022-05-16T13:27:27.457Z

While the price of a barrel of oil continues to climb, Saudi Arabia is undertaking to strengthen its positions by increasing its production.



Saudi Arabia plans to increase its daily oil production capacity by more than one million barrels to exceed 13 million barrels per day by early 2027, the energy minister said on Monday.

«

Le plus probable, c'est de 13,2 à 13,4 (millions de barils par jour), mais fin 2026 ou début 2027

», a déclaré le ministre, le prince Abdelaziz ben Salmane, lors d'une conférence à Bahreïn .

The Saudi national company Saudi Aramco announced in March 2020 that the Ministry of Energy had ordered it to increase its maximum production capacity from 12 to 13 million barrels per day.

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The world's largest oil exporter, Saudi Arabia has so far failed to respond to recent calls from the United States to increase production in an attempt to contain oil prices which have soared since the outbreak. February 24 of the Russian military offensive in Ukraine.

At the start of the war, Saudi Arabia and the United Arab Emirates underlined their commitment to OPEC+, an organization that brings together the 13 members of OPEC, led by Saudi Arabia, and ten other oil exporting countries. non-OPEC members, led by Russia.

In early May, OPEC+ member countries agreed to a marginal increase in their oil production.

Source: lefigaro

All business articles on 2022-05-16

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