{"id":1246,"date":"2024-01-31T22:08:49","date_gmt":"2024-01-31T22:08:49","guid":{"rendered":"https:\/\/ventil.rs\/blog\/world\/saudi-arabias-capacity-u-turn-was-months-in-the-making-reuters-news-agency\/"},"modified":"2024-01-31T22:08:49","modified_gmt":"2024-01-31T22:08:49","slug":"saudi-arabias-capacity-u-turn-was-months-in-the-making-reuters-news-agency","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/world\/saudi-arabias-capacity-u-turn-was-months-in-the-making-reuters-news-agency\/","title":{"rendered":"Saudi Arabia\u2019s capacity U-turn was months in the making\u00a0 | Reuters News Agency"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><span class=\"rts-topic-title__tag\">Energy<\/span><span class=\"rts-topic-title__tag\">Human Interest<\/span><\/p>\n<div class=\"rts-article-info \">\n<p><span class=\"rts-article-info__date\">31 January 2024, 10:08 pm <\/span><span class=\"rts-article-info__time \">1 minute<\/span><\/p>\n<\/div>\n<div class=\"et_pb_module et_pb_post_content et_pb_post_content_0_tb_body\">\n<p>Reuters <strong><a href=\"https:\/\/www.reuters.com\/markets\/commodities\/saudi-arabias-u-turn-capacity-was-least-six-months-making-industry-source-2024-01-31\/\">exclusively reported<\/a><\/strong> that Saudi Arabia\u2019s surprise reversal of its oil expansion ambitions was at least six months in the making, after Riyadh concluded its vast spare capacity was enough to supply markets during crises and further investments in new fields would make no economic sense.\u00a0<\/p>\n<\/p><\/div>\n<h3>Market Impact<\/h3>\n<p>Saudi Arabia is the world\u2019s largest oil exporter and is pumping around 9 million bpd, well below capacity after several output cuts coordinated with the de facto Saudi-led Organization of the Petroleum Exporting Countries (OPEC) and its allies. <\/p>\n<div class=\"rts-tag-box\">\n<p>Article Tags<\/p>\n<p><span class=\"rts-tag-box__item-title\">Topics of Interest: <\/span><span class=\"rts-tag-box__tag\">Energy<\/span><span class=\"rts-tag-box__tag\">Human Interest<\/span><\/p>\n<p><span class=\"rts-tag-box__item-title\">Type: <\/span><span class=\"rts-tag-box__tag\">Reuters Best<\/span><\/p>\n<p><span class=\"rts-tag-box__item-title\">Sectors: <\/span><span class=\"rts-tag-box__tag\">Commodities &amp; Energy<\/span><\/p>\n<p><span class=\"rts-tag-box__item-title\">Regions: <\/span><span class=\"rts-tag-box__tag\">Middle East<\/span><\/p>\n<p><span class=\"rts-tag-box__item-title\">Countries: <\/span><span class=\"rts-tag-box__tag\">Saudi Arabia<\/span><\/p>\n<p><span class=\"rts-tag-box__item-title\">Win Types: <\/span><span class=\"rts-tag-box__tag\">Exclusivity<\/span><\/p>\n<p><span class=\"rts-tag-box__item-title\">Story Types: <\/span><span class=\"rts-tag-box__tag\">Exclusive \/ Scoop<\/span><\/p>\n<p><span class=\"rts-tag-box__item-title\">Media Types: <\/span><span class=\"rts-tag-box__tag\">Text<\/span><\/p>\n<p><span class=\"rts-tag-box__item-title\">Customer Impact: <\/span><span class=\"rts-tag-box__tag\">Significant National Story<\/span><\/p>\n<\/div><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.reutersagency.com\/en\/reutersbest\/article\/saudi-arabias-capacity-u-turn-was-months-in-the-making\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>EnergyHuman Interest 31 January 2024, 10:08 pm 1 minute Reuters exclusively reported that Saudi Arabia\u2019s surprise reversal of its oil expansion ambitions was at least six months in the making, after Riyadh concluded its vast spare capacity was enough to supply markets during crises and further investments in new fields would make no economic sense.\u00a0&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/ventil.rs\/blog\/world\/saudi-arabias-capacity-u-turn-was-months-in-the-making-reuters-news-agency\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;Saudi Arabia\u2019s capacity U-turn was months in the making\u00a0 | Reuters News Agency&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":1247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.reutersagency.com\/wp-content\/uploads\/2024\/01\/MicrosoftTeams-image-1-scaled.jpg","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-1246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.8 (Yoast SEO v22.1) - 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