DUBAI, United Arab Emirates (AP) — Saudi Arabia’s oil company Aramco said Wednesday it will increase production capacity to 13 million barrels per day, up from 12 million per day, part of a strategy to dominate market share amid a slowdown in demand due to the outbreak of a new virus. The majority state-owned company’s announcement, made on the Saudi Tadawul stock exchange, did not say when that capacity increase would happen. Aramco said the decision was a directive from the Saudi Energy Ministry. The kingdom’s energy policy is largely directed by Crown Prince Mohammed bin Salman and the country’s Energy Minister Prince Abdulaziz bin Salman. The two are half-brothers and sons of the king. Saudi Arabia has been producing around 9.8 million barrels per day, carrying the bulk of cuts that were agreed upon by OPEC members and other major oil producers, namely Russia, to stave off an […]