Saudi Minister of Investment on Saudi spare oil capacity

The transcript discusses the challenges faced by the Kingdom in maintaining production levels due to global crises like COVID-19 and sanctions. It highlights the use of spare capacity to stabilize the market and outlines future plans to increase sustainable production capacity to 13 million barrels, as directed by the Crown Prince. The leadership of Saudi Arabia is committed to fulfilling these production goals.

How did Saudi Arabia respond to the decline in oil production caused by global crises?

• By increasing oil prices

• By reducing its oil production

• By utilizing its spare capacity

• By importing more oil

What happens to Saudi Arabia's spare capacity when it is used to stabilize the market?

• It decreases

• It increases

• It becomes unpredictable

• It remains the same

What strategic action has Saudi Arabia taken regarding its oil production capacity?

• Decreasing its production capacity

• Raising its sustainable capacity to 13 million barrels

• Focusing on renewable energy sources

• Maintaining current production levels

Who announced the increase in Saudi Arabia's sustainable production capacity?

• The King

• The Prime Minister

• The Minister of Energy

• The Crown Prince

What is the significance of Saudi Arabia's commitment to raising its production capacity?

• It indicates a decrease in global demand

• It suggests a shift to renewable energy

• It demonstrates the Kingdom's reliability

• It shows a lack of planning