REUTERS/Lucy Nicholson Saudi Arabia says it can flood the market with a lot more oil. Immediately. In an interview with Bloomberg, Deputy Crown Prince Mohammed bin Salman said The Kingdom could increase output to 11.5 million barrels a day right away, and up to 12.5 million within six to nine months "if we wanted to." "I don’t suggest that we should produce more, but we can produce more,” he said. “We can produce 20 million barrels of oil per day if we invested in production capacity, ...
Saudi Arabia says it can flood the oil market with over 1 million extra barrels right away
Business Insider - 16 Apr 2016 15:30
REUTERS/Lucy Nicholson Saudi Arabia says it can flood the market with a lot more oil. Immediately. In an interview with Bloomberg, Deputy Crown Prince Mohammed bin Salman said The Kingdom could increase output to 11.5 million barrels a day right away, and up to 12.5 million within six to nine months "if we wanted to." "I don’t suggest that we should produce more, but we can produce more,” he said. “We can produce 20 million barrels of oil per day if we invested in production capacity, ...
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