Middle East Economic Survey


No 33


Saudi Arabia Ready To Commit 1.3Mn B/D Spare Capacity If Demanded By Customers

Saudi Arabia is prepared to commit its surplus production capacity of more than 1.3mn b/d, which could be used immediately if required, to help ensure the stability of the international oil market and prevent oil prices from escalating, the kingdoms Oil Minister Ali Naimi said in a statement on 11 August. He added that over the past three month Saudi Arabia had...