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

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

Saudi Arabia to invest $20 billion in spare oil production capacity
@ Copyright :
Ahmed Jadallah(Reuters)
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MOSCOW (Reuters) - Saudi Arabia will invest $20 billion (15 billion pounds) 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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