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FinancialNews
08-08-21
Saudi Arabia to lead increases in oil, gas production globally through 2030
(MENAFN)Fitch Ratings declared that Saudi Arabia is going to boost oil and gas production globally through 2030 as international energy majors remain wary of fluctuating demand and concentrate on short-term profit.
Fitch declared in its Oil & Gas Global Capex Outlook that the Kingdom is going to raise production of crude oil, condensate and natural gas liquids by 2.24 million barrels a day amid 2021 and 2030, ahead of Iran’s 2.17 million barrels the UAE’s 1.61 million, Libya’s 1.04 million and Kuwait’s 966,000 barrels.
Iraq is estimated to witness a substantial gain, of 691,000 barrels, as Qatar’s is going to be more modest, at 127,000 barrels. Bahrain and Oman are going to witness a contraction in output.
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