Saudi oil company Saudi Aramco announced Wednesday it will raise its maximum sustainable capacity (MSC) to 13 million barrels per day.
Aramco's President and CEO Amin H. Nasser said in a statement released on the Saudi Press Agency on Wednesday that the company has been directed by the Ministry of Energy to raise the MSC from 12 to 13 million barrels per day.
The company is exerting its maximum efforts to implement this directive as soon as possible, he said.
Following the breakdown of talks on Friday between OPEC members and Russia on securing a further oil production cut, lines have been drawn in an oil market price war.
Editor:Cherie
