Aramco's return to lower capacity target not related to technical issues - source

Saudi oil giant Aramco's reduction of its maximum sustainable capacity has nothing to do with technical issues advancing the programme and the company is ready to resume plans again if asked to do so, a source with knowledge of the matter said. Saudi Aramco on Tuesday said it was asked by the energy ministry to cut its planned maximum sustainable production capacity to 12 million barrels a day, after almost four years ago lifting the target to 13 mbpd.

The source also said that the move in no way reflected a change of views on future oil demand scenarios.