The International Energy Agency assumes Saudi Arabia's sustainable oil production capacity at just under 12 million b/d, the head of the IEA's Oil Industry and Markets Division said Monday.
"We assume Saudi Arabia's sustainable capacity at just under 12 million b/d. We struggle to get to 12.5 million b/d," David Fyfe said at the Middle East Petroleum and Gas Conference in Bahrain.
"That is our view of what Saudi Arabia can do in a relatively short time," Fyfe said, adding that this assumed a 30-day time span.
Saudi Arabia, OPEC's biggest oil producer and exporter, puts its total production capacity at 12.5 million b/d, including its 50% share of output from the partitioned neutral zone it shares with Kuwait.
Current Saudi production is estimated at 10 million b/d, Fyfe said.
