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FINANCIAL NEWS
Saudi Arabia’s October oil output likely at 10m bpd: Al-Naimi
10 Oct 2012
(MENAFN) Saudi Oil Minister Ali Al-Naimi expected the oil-rich Gulf Kingdom to produce around 10 million barrels per day (bpd) of oil in October, Reuters reported.
He told reporters that Saudi Arabia produced also around 10 million bpd of crude in September.
He reiterated the Kingdom’s commitment to boost oil output to meet demand, adding that Saudi Arabia has the capability to produce 12.5 million bpd but global demand doesn’t need this amount.
Al-Naimi also vowed that the Kingdom will work to satisfy global energy markets and to “moderate” prices, according to Oman Tribune.
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