TV News LIES

Sunday, Apr 21st

Last update02:02:48 AM GMT

You are here News Energy Saudi Arabia surprises oil markets by ditching plan to increase production

Saudi Arabia surprises oil markets by ditching plan to increase production

E-mail Print PDF
Saudi Arabia ditches plan to increase production

Saudi Arabia has cast doubt on the future of the global oil market after abandoning plans to grow its crude production capacity by 1m barrels a day.

The world’s biggest exporter signalled a big change in policy by ordering the state oil company, Saudi Aramco, to drop plans to expand its maximum production capacity to 13m barrels a day by 2027.

The decision has raised questions over the future of global oil demand growth, weeks after an influential report found that a worldwide peak in crude demand could come before the end of this decade.

The International Energy Agency said that the faltering global economy would slow the world’s growing demand for oil from this year, before the take-up of electric vehicles in the second half of the decade causes consumption to reach a peak.

More...


Most Recent Related Stories...


US energy industry gas leaks are triple the official figures, study finds

US indsustry gas leaks US oil and natural gas wells, pipelines and compressors are spewing three times the amount of...

Ukraine withdraws from Avdiivka, in Russia's first major battlefield win in months

Ukraine withdrawing from AvdkivkaRussian troops have occupied the eastern Ukrainian town of Avdiivka after a months-long assault that wore...

Schumer calls for new government, 'course corrections' by Israel

Chuck Schumer Senate Majority Leader Chuck Schumer is calling for new elections in Israel, describing Prime Minister Benjamin...

‘Smoking gun proof’: fossil fuel industry knew of climate danger as early as 1954, documents show

Fossil fuel industry knew of dangersThe fossil fuel industry funded some of the world’s most foundational climate science as early as...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!