Saudi Arabia, the world's largest crude oil exporter, doesn't have enough production capacity to boost oil production in a world still hungry for fossil fuels, implying that President Biden's recent trip to the Kingdom was a waste of time.

Crown Prince Mohammed bin Salman (MbS) told the leaders of the US, the Gulf Cooperation Council (GCC) states, Jordan, Egypt, and Iraq at a meeting this weekend that additional capacity to increase production to 13 million barrels per day (bpd) by 2027 will be challenging.

WSJ's energy correspondent Summer Said the Kingdom's production stands around 10.5 million bpd and has a production capacity ceiling of 12 million bpd. That means the potential output increase is only 1.5 million bpd. And another million bpd in five years.