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Saudi to supply the market with more oil

25 Jun 2014

(MENAFN) Saudi oil official said that top oil exporter Saudi Arabia plans to supply the market with extra crude to meet any rise in demand or if there are disruptions in oil supplies, according to Gulf Daily News.

Saudi Arabia, which currently produces around 9.7 million barrels per day (bpd), has the ability to pump to its full capacity of 12.5m bpd.

The official said: “Saudi Arabia has the capability to produce up to 12.5m bpd when the customers ask for it. The oil resources, production facilities and the management all support this.”

He added: “If there is an increase in demand or disruption in supplies, Saudi will supply the market. Saudi will continue to make sure there is a balance in the international oil market. Saudi did that in the past and will continue to do so.”

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