Saudi Aramco Can Sustain 12 Million Mpd Oil Output for a Year

Saudi Aramco can sustain its oil production at its maximum capacity of 12 million barrels per day (bpd) for a year without additional investments, Amin Nasser, the chief executive of the Saudi state oil giant said at the Energy Intelligence Forum in London on Monday.  Concerns have emerged among analysts in recent weeks that the reversal of the OPEC+ cuts leaves the declining spare capacity vulnerable to supply shocks. Saudi Arabia holds the world’s biggest spare capacity. It is estimated at more than 2 million bpd, but it may actually…