MEES SPECIAL

Naimi Calls For OPEC To Increase Ceiling More Than 2Mn B/D; Saudis To Produce 9Mn B/D In June

Saudi Oil Minister Ali Naimi on 21 May announced that recent revisions in supply and demand projections point to the need for an increase in the OPEC production ceiling of more than 2mn b/d. MEES understands that this will be proposed to OPEC oil ministers officially at the extraordinary meeting in Beirut on 3 June. He said that Saudi Arabia plans to produce 9mn b/d in June. Following is...