Saudi Arabia will increase the country's oil output capacity to 13 million barrels per day, Saudi Crown Prince Mohammed bin Salman said on Saturday.
Salman spoke at the Jeddah Security and Development Summit, hosted by Saudi Arabia with the attendance of US President Joe Biden and the leaders of the Gulf Cooperation Council (GCC) countries, Egypt, Iraq and Jordan.
He expressed his expectation that the summit creates a new period of cooperation that will deepen the strategic partnership between the Arab countries and the US, and it will serve mutual interests, and establish security and development in the region.
Salman also noted that Saudi Arabia decided to increase its daily oil production to 13 million barrels, although stressed that there will not be any additional capacity to increase oil production beyond 13 million barrels per day.
Saudi energy minister Abdulaziz bin Salman said in May this year that the production target of 13 million barrels per day is set for 2027.
US President Joe Biden arrived in Saudi Arabia on Friday from Israel, for his first visit to the kingdom since taking office last year. Biden’s visit to Saudi Arabia is the last stop in his current regional tour that included Israel and the West Bank.
Reporting by Mehmet Nuri Ucar in Jeddah, Saudi Arabia
Writing by Ebru Sengul Cevrioglu
Anadolu Agency
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