Markets

Saudi Aramco Drops Expansion Plan, Raising Demand Questions

  • Company asked to maintain capacity at 12 million barrels daily
  • Surprise move will raise questions about view on oil demand
WATCH: “We have to ask the question over what timeline,” says oil analyst Amrita Sen when asked about Aramco’s u-turn.Source: Bloomberg
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Saudi Aramco abandoned a plan to boost its oil output capacity, a huge reversal that will raise questions about the kingdom’s view on future demand.

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