Saudi Aramco Makes New Discovery

Aramco has discovered an oil and gas field in the east near its existing Ghawar field. Oil Minister Ali Al-Naimi reported that a test well that was drilled in June has yielded approximately 1,100 barrels per day of crude as well as 1.6 million cubic feet of natural gas a day. This is the ninth commercially-viable discovery Aramco has made in the area. More test wells are being planned so that a more accurate estimate of the field's reserves can be obtained.

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Brent Crude Oil : $55.47/BBL 0.69%
Light Crude Oil : $52.48/BBL 0.30%
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