Middle East Economic Survey

VOL. XLVII

No 49

6-December-2004

Saudi Oil Capacity Expansion Plans Driven By Demand Forecasts, Says Naimi

Saudi Arabia is today producing oil at a rate close to 9.5mn b/d with a production capacity of 11mn b/d, according to Saudi Oil Minister Ali Naimi. Speaking to delegates after delivering his paper Saudi Arabia: Economic, Oil and Mineral Restructuring and Reforms at the Royal Institute For International Affairs (RIIA) in London, Mr Naimi said that the decision to...