Saudi Arabia’s capacity U-turn was months in the making 

EnergyHuman Interest

Reuters exclusively reported that Saudi Arabia’s surprise reversal of its oil expansion ambitions was at least six months in the making, after Riyadh concluded its vast spare capacity was enough to supply markets during crises and further investments in new fields would make no economic sense. 

Market Impact

Saudi Arabia is the world’s largest oil exporter and is pumping around 9 million bpd, well below capacity after several output cuts coordinated with the de facto Saudi-led Organization of the Petroleum Exporting Countries (OPEC) and its allies.

Article Tags

Topics of Interest: EnergyHuman Interest

Type: Reuters Best

Sectors: Commodities & Energy

Regions: Middle East

Countries: Saudi Arabia

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

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