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Saudi Aramco’s Q1 total output rises 13% to 13 mil boe/d as capex drops 7%

May 15, 2022 Comments Off

Saudi Aramco, the world’s biggest oil company, on May 15 reported a 13% increase in total hydrocarbons output to 13 million boe/d in the first quarter from a year earlier and a 7% decline in capital expenditures amid plans to increase spending. Aramco, which had produced 11.5 million boe/d in Q1 2021, didn’t disclose its average oil production in the…