10 Apr 2011
(MENAFN) Saudi Oil Minister, Ali Al Nuaimi, said that his country would supply Asia with needed quantities of oil as countries face a shortage in supply due to the political unrest in Libya, reported Gulf Daily News.
Al Nuaimi added that since the country has a large spare capacity of oil production, the kingdom is able to respond to any increase or drop in international demand and supply.
He said that following the Libyan conflict and its effects on oil supply, Saudi Arabia increased its production of oil to 9 million bpd to balance the shortcut in oil exported to Europe.
It is worth noting that oil prices increased driven by the sinking dollar, supply and demand, political upheaval, fear and financial speculation.
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more