Saudi Arabia plans to reduce domestic consumption of liquid hydrocarbons by 1 million b/d for use “in a better way”, the kingdom’s Energy Minister Prince Abdulaziz bin Salman said on March 16. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Before the COVID-19 pandemic, the kingdom — the Gulf’s largest economy — was consuming around 491,000 b/d of oil for industrial use and power generation during the height of its summer demand in 2019, according to previous S&P Global Platts Analytics estimates. The US Energy Information Administration had estimated the figure to be closer to 1 million b/d in 2015 at the peak of summer during a record year for demand. “If we are […]