Saudi Aramco says it will increase oil production capacity

DUBAI, United Arab Emirates — Saudi Arabia’s oil company Aramco says it will increase production capacity to 13 million barrels per day, up from 12 million per day.

The majority state-owned company’s announcement, made on the Saudi Tadawul stock exchange on Wednesday, did not say when that capacity increase would happen.

Aramco says the decision to increase capacity was a directive to the company from the Saudi Energy Ministry.

The Associated Press