Saudi Arabia to invest $20 billion to expand spare oil production capacity

The investment will be across several years and will see its capacity increase from its current 12 million bpd.

On Thursday, Saudi Arabia’s energy minister Khalid al-Falih said, the Kingdom will invest $20 billion in the coming years to maintain and expand its spare oil production capacity.

Its current oil production capacity stands at 12 million barrels per day (bpd).

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