Saudi Arabian Oil Capacity to Stay at 12.5 Million Barrels a Day
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Saudi Arabia, holder of the world’s largest crude oil reserves, has no plans to raise production capacity beyond 12.5 million barrels a day, a Saudi Arabian oil official said.
Reports that the country may boost its output capacity to 15 million barrels a day aren’t true, the official said by telephone today, declining to be identified by name because he isn’t authorized to speak publicly.