- It's been years since Peak Oil or Oil are talking about the top. But on this occasion, Prince Mohammed bin Salman of Saudi Arabia announced at a public conference that this point will arrive earlier than expected, in 2027.
For the ARGIA reader, it is not a strange concept Peak Oil or the oil summit, the first articles by Pello Zubiria are twelve years themed. In short, the oil peak is the time when the maximum oil extraction rate is reached, so the production rate will decrease. The peak of oil is therefore the limit that will reach the peak of world oil extraction.
Reporter has reported that Saudi Arabia’s leading leader has acknowledged that the oil in the country will reach its peak by the end of 2026 or the beginning of 2027 and below expected levels.
According to media Radio France Internationale, the Ministry of Energy commissioned the largest local energy company, Saudi Aramco, in March 2020, to increase its production capacity from 12 million barrels a day) to 13 million bps. But at the time, nothing was said about the possible length of life of indigenous oil.
However, the media has pointed out that Iraq is thinking of increasing oil production and of producing six million GDP by 2027 and eight million by 2029. It currently produces less than 3.5 million.