Further Ruminations on Saudi Arabia’s Oil Reserves

March 27, 2024

In January, Aramco announced it would maintain its 12 m b/d capacity instead of increasing to 13 m b/d, sparking speculation about oil demand peaking.

Saudi Arabia may have canceled expansion plans due to concerns about insufficient recoverable reserves.

In this article, G&R discusses why we believe Saudi Aramco's oil production declines are closer than anyone anticipates.  

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