DUBAI (Reuters) – Saudi Arabia’s surprise announcement reversing its oil expansion plan was at least six months in the making and was based on uncertainty around market needs for additional spare capacity, an industry source told Reuters on Wednesday. Aramco was ordered by the Saudi energy ministry on Tuesday to halt plans to boost its maximum sustainable capacity to 13 million barrels a day (mbpd), returning to the previous 12 mbpd target. (Reporting by Maha El Dahan and Yousef Saba; Editing by Nadine Awadalla)
