Saudi Arabia not to increase capacity beyond 12.5 million barrels a day

Posted By: Religare
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Saudi Arabia not to increase capacity
According to Saudi Arabian oil official, major crude producer, Saudi Arabia has no intention of increasing its crude production over 12.5 million barrels a day. In the middle of rising crude prices and tight crude supply in the global market, the nation has scrapped the rumour about raising its capacity to 15 million barrels a day.

Earlier, Saudi Arabia"s OPEC Governor Majid al-Moneef had stated that the nation will maintain the capacity at 12.5 million barrels a day for the coming 20 years. 

Read more about: gas, opec, oil and gas
Story first published: Monday, April 25, 2011, 12:31 [IST]
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