IEA downgrades Saudi’s output capacity - FT.com

The latest monthly report of the International Energy Agency contained the usual update on oil supply and demand numbers, but it also revealed a striking fact: the maximum production capacity of Saudi Arabia is lower than we thought.

In its February report released last week, the Paris-based watchdog reduced its estimate of the kingdom’s maximum output to 11.88m barrels a day, a notch below the previous assumption of 12m b/d, which the IEA used in its January report.

Saudi Aramco, the country’s oil company, puts its maximum output at 12.5m b/d.

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