Saudi Aramco stops plans to increase maximum production capacity

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State-controlled Saudi Aramco announced on Tuesday that it will halt plans to raise its crude oil production capacity from 12 million barrels per day to 13 million barrels per day.

The largest crude exporting country in the world said, in a statement, that it had received orders from the Saudi Ministry of Energy to maintain its maximum sustainable production capacity at current levels, after several years and billions of dollars since it received a directive to increase production capacity to 13 million barrels per day by 2027.

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