Saudi Arabia Halts Oil Production Capacity Increase
Provided by
Dow Jones
By Pierre Bertrand
Saudi Arabian Oil Company, commonly known as Saudi Aramco, said that it has been ordered by the Saudi government to keep its oil production capacity at 12 million barrels a day.
The oil and gas company said it received the instruction while it was working to increase production to 13 million barrels per day.
"Aramco announces that it has received a directive from the Ministry of Energy to maintain its Maximum Sustainable Capacity (MSC) at 12 million barrels per day," it said in a statement.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
January 30, 2024 02:04 ET (07:04 GMT)
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