Saudi Arabia on track to lift oil output to over 13mn bpd by 2027; Minister

Saudi Arabia on track to lift oil output to over 13mn bpd by 2027; Minister

Saudi Arabia’s energy minister Prince Abdulaziz bin Salman has stated that the kingdom is on track to increase its oil production capacity by more than 1 million barrels per day to over 13 million barrels bpd by the end of 2026 or the start of 2027.

Prince Abdulaziz told an energy conference in Bahrain that “production could be maintained at that level once it was reached should market demand require it.”

The current production capacity of Saudi Arabia is 12 million bpd. The prince also said all upstream investments would be domestically focused to achieve that goal.

Prince Abdulaziz Bin Salman

Minister of Energy

Saudi Arabia “We have no money to waste on anywhere else. We are going to go to 13.2 to 13.3 [million bpd] subject to what we will do in the divided zone but most likely it will be 13.3 and 13.4 and that will be attended by the end of 2026 or the beginning of 2027. We are improving [capacity] with our friends Kuwait. We are trying to first go back to old capacities. The world is running out of capacities at all levels. Supply chain issues are further exacerbating the impact and the energy sector is a global issue for