Saudi to up oil output to 12.5 million b/d

With the Kingdom’s production currently at 9.5 million b/d, this leaves spare capacity at 1.5 million b/d. The perception of a lack of spare capacity amongst the Organization of Petroleum Exporting Countries was a major contributor to the “fear factor” which sent oil prices soaring this year, as traders feared OPEC would not be able to make up for any production disruptions around the world.

Talking at London’s Chatham House, Naimi said the surge in demand this year took everyone by

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: