The initial public offering of the world’s largest oil company will not mean an end to a long-time policy of keeping some of its production capacity idle to cushion any disruption in supply, Saudi Arabia’s energy minister said. Investors who plan to buy shares in the company “must accept” that Saudi Arabian Oil Co. will keep some of its production in reserve, Khalid Al-Falih told reporters in a briefing in Vienna on Thursday. The kingdom has a production capacity of 12.5 million barrels a day and it doesn’t need to expand it beyond that level “any time soon,” he said. Deputy Crown Prince Mohammed bin Salman, the king’s influential son, said in April that the government will sell less than 5 percent of the state producer known as Saudi Aramco in 2018 at the latest, a date that al-Falih said was a “reasonable” target for the IPO. A listing […]