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Saudi Aramco is raising its production capacity to 13 mln BPD: CEO

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Saudi Aramco’s chief executive said on Monday the state-controlled energy company was optimistic about the oil market and bullish about demand recovery.

“We are very bullish about oil demand going forward,” Chief Executive Amin Nasser told an analyst call.

said Aramco was in the detailed engineering phase to raise its maximum sustained capacity to 13 million barrels per day (bpd), a rise of 1 million bpd.

He said the company would raise capacity in increments over the next few years.

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