Saudi Arabia targets a 13.5m bpd capacity energy minister tells Time magazine

RIYADH: Saudi Arabia is targeting an oil production capacity of around 13.5 million barrels per day by 2027 as demand for crude and consumption will continue to grow, the Time magazine reported citing the Kingdom’s energy minister. 

Prince Abdulaziz bin Salman affirmed that Saudi Arabia can launch multibillion-dollar solar, wind, and hydrogen projects while continuing to be a giant oil producer. 

He added it is absurd to choose between the two, describing those who predict a decline of fossil fuels use as “living in a fantasy land.”