Saudi Arabia’s Aramco Halts Plans to Increase Crude Production Capacity Amid Uncertainty in Oil Demand

Saudi Arabia’s Aramco Halts Plans to Increase Crude Production Capacity Amid Uncertainty in Oil Demand

ByPeter Blunt

Aramco Pauses Plans to Increase Crude Production Capacity Saudi Arabia’s state-controlled Aramco announced on Tuesday that it is putting on hold its plans to raise its crude production capacity. The company had initially aimed to increase capacity from 12 million barrels per day to 13 million barrels per day. This decision comes amidst growing uncertainties…

IEA Predicts Global Oil Demand Will Peak This Decade, as Clean Energy Takes Over

IEA Predicts Global Oil Demand Will Peak This Decade, as Clean Energy Takes Over

ByJohn Mahon

The International Energy Agency predicts slow growth and peak in oil demand Global oil demand growth will trickle nearly to a halt in the coming years and peak this decade, according to the International Energy Agency, with Chinese consumption set to slow down after an initial pent-up recovery. “The shift to a clean energy economy…

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