Saudi Arabia will not sell oil to any country imposing price caps, energy minister says – The National
- Date: 15-Mar-2023
- Source: The National
- Sector:Oil & Gas
- Country:Saudi Arabia
Saudi Arabia will not sell oil to any country imposing price caps, energy minister says – The National
Saudi Energy Minister Prince Abdulaziz bin Salman said that the kingdom would not sell oil to any country that imposes a price ceiling on supplies.
He said in an interview published in Energy Intelligence on Tuesday that placing a price cap on oil would invariably lead to market instability and he warned of reduction in production.
The kingdom is looking to expand production capacity to 13 million barrels per day by 2027.
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