Saudi ‘Could Double Oil Output’

“US forecasts say Saudi capacity will need to grow from its current 11 million bpd to over 23 million bpd to meet world demand,” he said in a speech at Rice Universitys James Baker III Institute for Public Policy in Houston, according to the text of his remarks released by Aramco Tuesday.

“Can Saudi Arabia and Saudi Aramco step up and deliver?” Jumah asked.

The answer is “yes,” he said, citing the kingdoms 260 billion barrels of reserves – a quarter of the world’s total – and the prospect of adding another 200 billion barrels through an aggressive exploration program.
Finance24