October 4, 2018 / 9:55 AM / 2 months ago

Saudi Arabia to invest $20 bln in spare oil production capacity

MOSCOW, Oct 4 (Reuters) - Saudi Arabia will invest $20 billion in the next few years to maintain and expand its spare oil production capacity, Saudi Energy Minister Khalid al-Falih said on Thursday.

Saudi Arabia’s oil production capacity stands at 12 million barrels per day. (Reporting by Dmitry Zhdannikov and Denis Pinchu; Editing by Emelia Sithole-Matarise)

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