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Bank of America: Saudi Aramco can quickly increase oil production at a low cost.
Jin10 reported on May 13 that Bank of America analysts stated that Saudi Aramco can quickly increase oil production at limited additional costs. Saudi Aramco said in a conference call with analysts on Monday that the company could raise its daily oil production from the current approximately 9.4 million barrels to around 12 million barrels within a few weeks at limited costs. Analysts estimate that for every additional 1 million barrels per day, operating cash flow would increase by $12 billion.