The firm, known formally as the Saudi Arabian Oil Co., said it would maintain its maximum output at 12 million barrels a day. It did not give a reason for the decision. However, crude oil prices globally have fallen over recent months as demand has been soft. Benchmark Brent crude traded Tuesday around $81 a barrel.
Aramco reported earning $161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company and drawing immediate criticism from activists worried about climate change.
BY: Nadeem Faisal Baiga
