Middle East Economic Survey


No 22


Naimi Stresses Kingdoms Commitment To 1.5-2.0Mn B/D Spare Capacity Cushion

Saudi Arabia is committed to maintaining a spare production capacity cushion of 1.5-2.0mn b/d in the future, just as it has in the past, the kingdoms Oil Minister Ali Naimi said in a speech in California on 23 May (for the text, see page 26). He added that Saudi Arabia was doing this because it knew that the health of the global economy and the kingdoms hopes for a...