Saudi Arabia will not have any additional capacity to increase oil production beyond 13 million barrels per day (bpd), Crown Prince Mohammed bin Salman said during his address to the US-Arab summit in Jeddah, The National News reported.

“The kingdom has announced an increase in its production capacity level to 13 million barrels per day, after which the kingdom will not have any additional capacity to increase production,” he said.

The kingdom previously said it was aiming at production capacity of 13 million bpd by 2027.

The crown prince also said that unified efforts were required to support the global economy, and that unrealistic policies regarding energy sources would only lead to inflation.

The summit in Jeddah was attended by US President Joe Biden and leaders from the six Gulf Co-operation Council states, as well as Egypt, Jordan, and Iraq. Biden held bilateral talks with Saudi leaders on Friday in Jeddah.