Friday, May 30, 2025

Latest

Saudi’s Maximum Capacity For Oil Production Is Not As Much As Previously Suggested

It very much looks like the Saudis don’t have that much room to pump extra oil, contrary to what President Joe Biden had hoped for in his recent visit.

Saudi Arabia’s Crown Prince Mohammed bin Salman on Saturday announced that the kingdom will be raising its production capacity to 13 million barrels per day by 2027 — meaning current capacity is already hitting the ceiling at an average of 10.7 million bpd in 2021. 

“After that,” Prince Mohammed added, “the Kingdom will not have any more capability to increase production.” 

This revelation is new to many as it was previously suggested that Saudi, which is also the country holding the world’s largest oil reserves, could go up to 15 million bpd. Javier Blas in Bloomberg op-ed cites a 2004 presentation where Aramco told CSIS in Washington that the company could sustain production levels at 10, 12 and 15 million bpd until up to 2054 if necessary. 

According to a recent Reuters report, industry sources are questioning whether 12 million bpd can be reached. A source with access to Aramco insiders said that the company would not be able to pump more than 11 million bpd without drawing on stocks.

This newly unveiled reality underlines long-term global economy concerns, there’s still a long fossil-fuel-hungry road ahead.


Information for this briefing was found via Twitter, Bloomberg, Reuters and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

First Majestic Makes Second Major Discovery At Santa Elena In Just A Year

Related News

Saudi Arabia Weighs $100 Billion AI Investment Plan, Sources Say

Saudi Arabia is looking to launch an ambitious artificial intelligence venture dubbed “Project Transcendence,” with...

Saturday, November 9, 2024, 11:14:00 AM

Aramco and Ma’aden In High-Stakes Push to Claim Global Lithium Market Share

Saudi Aramco and Ma’aden have jointly announced a significant move to bolster Saudi Arabia’s emerging...

Sunday, January 19, 2025, 09:24:00 AM

This Week In China: Easing COVID Policies, Boosting Property Market, Visiting Saudi Oil

As Last Week Tonight host John Oliver would say: “it has been a busy week.”...

Friday, December 9, 2022, 10:11:29 AM

Saudi Arabia Pauses BRICS Move After Trump Tariff Threat

Saudi Arabia has frozen its bid to join the BRICS economic group, Russian presidential advisor...

Friday, December 27, 2024, 11:05:00 AM

US Oil Soars to $60 Amid Refinery Shutdowns, Supply Disruptions

The price of oil soared to nearly US$60 per barrel — the highest level in...

Tuesday, February 16, 2021, 02:45:00 PM