AP
Sunday, June 22, 2008
JIDDAH, Saudi Arabia -- Saudi Arabia's oil minister says the kingdom is willing to produce more oil if customers need it, but he cited no specific production increase.
The kingdom will pump about 9.7 million barrels a day beginning in July because of recent increases already announced.
But Saudi Oil Minister Ali al-Naimi says it can produce more than 9.7 million a day if customers request it.
The oil minister also says the kingdom can increase its pumping capacity long-term by as much as 2.5 million extra barrels a day.
Al-Naimi was to make the announcements later Sunday in a speech at an oil meeting in Jiddah. The AP obtained a copy of the speech in advance.
FULL ARTICLE @ AP
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