Saudi Arabia to Keep Spare Oil Capacity at 2 Mln Barrels a Day
Date: Sunday, December 26 @ 08:58:53 PST
Topic: Production; Extraction; Exploration
Saudi Arabia, the world's biggest oil exporter, is maintaining spare oil production capacity of about 2 million barrels a day to help avert shortages and control prices, the country's oil minister said.
``The kingdom has a surplus production of around 2 million barrels, which can be used when needed,'' Oil Minister Ali al- Naimi said today at an official opening of the Qatif oil field in the east of Saudi Arabia.
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