Home / Economy / S. Arabia not capable of raising oil output by up to 2mbd: Official

S. Arabia not capable of raising oil output by up to 2mbd: Official

He made the remarks following US President Donald Trump’s request from the kingdom to increase oil production by up to 2,000,000 barrels per day.

He further noted that if it does so, it means issuing an order for its withdrawal from OPEC.

Last week during the 174th meeting in Vienna, 15 members of OPEC decided to cut production by 1.2 million barrels a day and maintain the ceiling at 32.5 million barrels a day.

They also agreed to fully adhere to the ceiling of production.

Kazempour also said on Thursday that United States Department of State had announced oil output was low, as Saudi Arabia claimed to produce 11 million barrels a day in July.
“They both are mocking us,” he went on say.

Trump tweeted on Saturday that he has agreed with Bin Salman to raise oil production following unstable conditions in Iran and Venezuela.

This is while AP reported that Saudi Arabia is still to confirm the request.

Saudi Arabia is the world’s top oil exporter and the Organization of Petroleum Exporting Country’s biggest producer.

It has a maximum sustainable capacity of 12 million bpd, but it has never tested that level of production.
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