Saudi Aramco is preparing to supply 12.3mn b/d of crude oil for the foreseeable future. CEO Amin Nasser told the state-led firm’s 2019 earnings call on 16 March that “the decision for April is 12.3mn b/d. I doubt if May will be any different.” Mr Nasser added that “we can sustain that for one year without any additional Capex or Opex.”

The 12.3mn b/d figure implies a massive 2.5mn b/d (25%) hike on 2019’s average output of 9.8mn b/d. Overall, Aramco says 2019 hydrocarbons output was 13.2mn boe/d including 1.3mn b/d NGLs, 8.98bn cfd of sales gas and 0.96bn cfd of ethane (see charts). (CONTINUED - 1420 WORDS)