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Sole survivor? Saudi Aramco doubles down on oil to outlast rivals
DUBAI/RIYADH (Reuters) – The slump in demand for crude in the course of the coronavirus pandemic has forced oil providers to ponder the risk that the fossil gas sector has peaked and the time for a global electrical power changeover has arrive. But Saudi Aramco ideas to increase its output ability so it can pump as substantially of Saudi Arabia’s large oil reserves when desire picks up – in advance of a change to cleaner electricity tends to make crude all but worthless, industry sources and analysts instructed Reuters. With just about 20% of the world’s demonstrated reserves and output expenses of just $4 a barrel, Aramco believes it can…