The Facts Behind Saudi Arabia’s Outrageous Oil Claims

Last week, Saudi Aramco’s chief executive officer, Amin Nasser, said that the company expects to boost its oil production capacity to 13 million barrels per day (bpd) by 2027 from 12 million bpd now. Given the semantic trickery often used by Saudi Arabia in referring to various aspects of its oil industry, and the outright lies that pertain to many of its claims – about production, spare capacity, and reserves in particular – it is apposite to note a few key facts about the Kingdom’s oil sector because it has real-world…

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