The Saudi Ministry of Energy asked the giant oil company, Aramco, to keep its production capacity level at 12 million barrels per day, retreating from a plan to increase it, according to what the company announced on Tuesday.

It said in a statement, “Saudi Aramco announces that it has received a directive from the Ministry of Energy to maintain the maximum sustainable production capacity level at 12 million barrels per day, and not to continue raising the maximum sustainable production capacity to the level of 13 million barrels per day.”

In October 2021, Aramco announced a plan to increase its daily production capacity from 12 million barrels per day to 13 million by 2027.

In the same month, it set a goal to reach carbon neutrality by 2050. This includes direct emissions from Aramco's industrial facilities, not carbon emitted when customers consume Saudi fuel in their cars, factories and power stations.