Saudi Arabia’s Decision to Halt Oil Capacity Expansion Was Mulled for Months ...Middle East

Saudi Arabia may have surprised markets by announcing it would ditch its plan to raise oil production capacity to 13 million barrels per day (bpd), but the decision was being deliberated for at least six months due to concerns that the world’s top crude exporter wasn’t fully monetizing its excess capacity, Reuters reported on Wednesday, quoting an industry source. On Tuesday, Saudi state oil giant Aramco said it was ordered by the Kingdom’s leadership to stop work on expanding its maximum sustainable capacity to…

Hence then, the article about saudi arabia s decision to halt oil capacity expansion was mulled for months was published today ( Wednesday 31/01/2024 - 01:57 PM ) and is available on OILPRICE ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Saudi Arabia’s Decision to Halt Oil Capacity Expansion Was Mulled for Months )

Also on site :

• The Invisible Energy Crisis Threatening to Derail the AI Boom
• Shield AI awarded U.S. Air Force production contract for Collaborative Combat Aircraft mission autonomy
• Die Hon Hai Technology Group (Foxconn) baut bei der VivaTech ihre weltweite Führungsrolle im Bereich KI-Fabriken und KI-Infrastruktur weiter aus