Will Saudi shift tack on oil policy?

Saudi Arabia has cut oil output significantly over the past year or so but that hasn’t prevented global oil prices from falling. Despite Aramco’s announcement today that it is postponing plans to raise production capacity to 13mn bpd, we think looming peak oil demand will prompt a reversion to the efforts under previous Oil Minister Ali Al-Naimi during 2014-16 to ramp up oil production to regain market share.

In view of the wider interest, we are also sending this Middle East & North Africa Economics Update to clients of our Energy service.

Note: Join our special online briefing on Middle East conflict, shipping disruptions, energy markets and the inflation outlook on 7th February. Register here for the 20-minute session.

Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.
By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.

Already a client or trialist? Log in to read this.