Middle East Economic Survey

VOL. XLVIII

No 38

19-September-2005

OPEC Sees Spare Output Capacity Under 2Mn B/D, Of Which 1.5Mn B/D In Saudi Arabia

OPEC said on 11 September that the organization had spare oil production capacity of just under 2mn b/d, of which around 1.5mn b/d is in Saudi Arabia. The statement, which clarified points made by Acting Secretary General Adnan Shihab-Eldin in an interview with Germanys Der Spiegel, repeated Saudi Arabias readiness to increase production to replace any...