The photo is sourced from photo.roscongress.org
“We have reduced oil production capacity from 13 million barrels per day (bpd) to 12 million bpd,” the minister reminded. Saudi Arabia’s actual oil production is well below the maximum possible level. According to the current OPEC+ quotas, oil production in the country should not exceed 8.98 million bpd within June to September 2024. However, by the end of 2025, the quota will be raised to 9.98 million bpd.
Saudi Arabia’s energy minister confirmed plans to increase production. “In 2025, we will start to gradually increase production, and in 2026-2027 the increase will become more significant. In 2028, the production will reach 12.3 million bpd,” the minister said.
