Saudi Aramco stands ready to ramp up crude oil output to its maximum capacity of 12 million barrels per day (bpd) if requested to do so by the Saudi Arabian government, the state oil company’s chief executive said on Sunday.
CEO Amin Nasser told reporters on an earnings call that global oil demand is healthy and China’s easing of COVID-19 restrictions and a pickup in the aviation industry could add to demand.
“There is healthy demand with very limited spare capacity currently available,” Nasser said, reiterating a call for more global investment in the hydrocarbon sector to meet future demand.
“We are confident of our ability to ramp up to 12 million bpd any time there is a need or a call from the government or from the ministry of energy to increase our production.
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