Saudis Step Up Price War With Oil Capacity Hike

摘要

Saudi Aramco has been directed by Riyadh to hoist its crude oil production capacity to 13 million barrels per day from the current level of 12 million b/d, taking the kingdom's strategy of maximizing market share to the next level. State-controlled Aramco said it had been instructed by the energy ministry to raise oil output capacity by 1 million b/d, according to a statement on the kingdom's Tadawul stock market. The statement added that Aramco's maximum sustainable capacity was determined by the state in accordance with Saudi Arabia's hydrocarbons law.