Saudi Aramco halts plan to raise production capacity: statement

RIYADH: Saudi Arabia has ordered energy giant Aramco to maintain its oil production capacity at 12 million barrels per day, abandoning a planned increase, the firm said on Tuesday.

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“Aramco announces that it has received a directive from the ministry of energy to maintain its maximum sustainable capacity (MSC) at 12 million barrels per day” instead of ramping it up to 13 million bpd, the firm said in a statement.