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Ministry of Energy directed Aramco to continuously produce 12.3 million barrels per day

The Saudi Ministry of Energy directed Aramco to continue providing crude oil supplies at the level of 12.3 barrels per day in the coming months.

An official source in the Ministry of Energy said recently that the Kingdom of Saudi Arabia will use the gas produced from the Al-Fadhli Gas Plant to replace about 250,000 barrels per day of domestic oil consumption.

The source added that this matter will enable the Kingdom to increase its crude exports during the next few months to exceed 10 million barrels per day.

In a related context, Amin Al-Nasser, CEO of Saudi Aramco, said last Wednesday that the company received a mandate from the Ministry of Energy to increase its oil production capacity to 13 million barrels per day from 12 million barrels per day at present, an increase of one million barrels per day.

A three-year agreement between OPEC and Russia ended after Moscow refused to support deepening oil cuts to cope with the outbreak of the Corona virus, and OPEC’s response to that abolished all restrictions on its production.

Saudi Arabia has pumped 9.7 million barrels per day in the past two months.

The Saudi oil production capacity is 12 million barrels per day, which gives it the ability to increase production quickly.