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Where Will Saudi Aramco Spend Its Bumper Profits?

After posting record profits, Saudi Aramco is increasing capital investment by up to 45% this year, but it is unclear how much will go toward lifting oil production capacity.

1 min read
  • Saudi Aramco plans to boost capital investment by up to 45% this year after posting record profits in 2022.
  • It is unclear how much of the increase will go toward lifting the country's oil production capacity.
  • Aramco has a huge advantage over other oil producers due to access to easy-to-exploit reserves in Saudi Arabia.
  • The future of global oil demand is uncertain, but OPEC sees it rising by 2035.
  • Saudi Arabia aims to boost domestic production capacity to 13 million barrels a day by 2027.
Where Will Saudi Aramco Spend Its Bumper Profits?
OPEC sees consumption rising almost 10% by 2035, but it’s not clear that Aramco intends to boost production capacity beyond current plans.
BloombergJulian Lee

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