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Saudi Arabia ready to increase supply

: Tuesday, May 13 - 2014 @ 10:06

Saudi oil minister, Ali Al-Naimi has said the kingdom is willing to supply markets with more crude if rising tensions between Russia and the West over Ukraine cause a shortage, Reuters has reported. “We are willing to supply any shortage which may arise,” Al-Naimi said. “Wherever demand is needed, we and other OPEC members will supply,” he said. The kingdom’s current output is around 9.6 million barrels per day (bpd), while it has a capacity of 12.5 million bpd, Al-Naimi added.

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Tuesday, May 13- 2014 @ 10:06 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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