Saudi Arabia said on Tuesday it plans to boost oil exports to more than 10 million barrels per day as the OPEC kingpin escalates a price war with Russia.
The world's biggest crude exporter said it would free up an additional 250,000 bpd of oil for exports by using gas for domestic consumption.
"Saudi Arabia will utilise the gas produced by the Fadhili gas plant to compensate for around 250,000 bpd of domestic oil consumption," a spokesman for the Saudi energy ministry said in a statement without detailing how one would replace the other.
This "will enable the kingdom to increase its crude exports during the coming few months to exceed 10 (million bpd)."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app