Saudi Arabia Raises Oil Production To 13m Barrels A Day

The Guardian: Saudi Arabia steps up oil price war with big production increase

State-owned Saudi Aramco told to pump 13m barrels a day in effort to corner global market

Saudi Arabia has intensified the oil price war by ordering its state-owned producer, Saudi Aramco, to raise the maximum production rate to record highs of 13m barrels a day.

The world’s most profitable company told the Saudi stock exchange on Wednesday that it would increase how much oil it can comfortably pump per day by 1m barrels to its highest rate ever.

The state order to raise Aramco’s “maximum sustainable capacity” comes after the kingdom launched a price war on rival petro-nations by vowing to raise its production by a quarter from last month despite an oil demand slowdown because of the coronavirus outbreak.

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WNU Editor: This is comical .... Russia says there is no oil price war with Saudi Arabia (RT).

More News On Saudi Arabia Raising Oil Production To 13m Barrels A Day

Saudi Arabia Orders Oil Production Capacity Increase -- VOA
Oil price war expands as UAE joins Saudi ally -- Asia Times
Oil slips after Saudi Arabia and UAE say they will increase output, escalating the global price war -- Business Insider
Saudi Arabia Strikes Back At Russia In Key Oil Market -- OilPrice.com