Saudi says 12.5 mbpd oil capacity sustainable

DUBAI (Reuters) – Top oil exporter Saudi Arabia will be able to pump at 12.5 million barrels per day for as long as the market needs when new capacity comes online next year, a Saudi oil official told Reuters on Tuesday.

BusinessWeek magazine reported last week that the kingdom would only be able to produce oil at maximum capacity for a short period of time before scaling back output.


“This is sustainable for as long as the market needs it,” he said. “We are on track to reach production capacity of 12.5 million bpd by the middle of next year and we will do it

Saudi Arabia was pumping at 9.7 million bpd in July and had no plans to change output in August, the official said.

Reuters