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Saudi Arabia, Opec’s largest producer, is on track to increase oil production to more than 13 million barrels per day by the end of 2026 or the start of 2027, its energy minister has said.

The current production capacity of Saudi Arabia, the Arab world's largest economy, is 12 million bpd.

“We are going to go to 13.2 to 13.3 [million bpd] subject to what we will do in the divided zone but most likely it will be 13.3 and 13.4 and that will be attended to the end of 2026 or beginning of 2027,” Prince Abdulaziz bin Salman told an energy conference in Bahrain on Monday.

“Can we or should we continue maintaining it? Yes, when we get there, if the market allows for maintaining it, we will maintain it.”

Saudi Arabia and Kuwait resumed oil production from shared oil fields along their Neutral Zone in 2020 after operations in the territory were halted in 2015.