Saudi Aramco's Oil Production Capacity
Saudi Aramco's CEO Amin Nasser announced that the company can maintain its maximum oil production capacity of 12 million barrels per day for a year.
This statement was made at the Energy Intelligence Forum in London, addressing concerns about the reversal of OPEC+ cuts and the potential impact on spare capacity.
Saudi Aramco can sustain its oil production at its maximum capacity of 12 million barrels per day (bpd) for a year without additional investments.
Analysts have raised concerns that the declining spare capacity leaves the market vulnerable to supply shocks, but Saudi Arabia holds the world’s biggest spare capacity.
Amin Nasser also discussed global oil demand growth and the reality of energy transition.
Author's Summary
Saudi Aramco can maintain 12 million bpd oil output for a year.