Saudi Aramco said on Monday it was likely to sustain higher oil output planned for April through into May, and that it was “very comfortable” with a price of $30 a barrel.
Aramco said last week it would be raising its output in April to a record 12.3 million barrels per day in a fight for market share with Russia that has helped to hammer global oil prices.
“In a nutshell, Saudi Aramco can sustain the very low price and can sustain it for a long time,” Chief Executive Amin Nasser said on Monday during a full-year earnings call with investors and analysts. “For the production in May … I doubt it would be any different from next month.”
