Saudi Arabia?s Oil Minister Ali Al-Naimi said on Monday, that the kingdom can increase its oil production by 1.5 million barrels a day to help ease rising world crude prices.
"We can increase supply by 1.5 million barrels a day. It depends on demand," Naimi told reporters in Manila, where he is on a three-day visit to meet government officials including President Gloria Arroyo.
Al-Naimi assured that Saudi Arabia doesn?t suffer limited oil supply.
"There is plenty of supply. What we in Saudi Arabia want is to alleviate this unnecessary concern about shortage of supply.?
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Saudis To Step Up Oil Output
The kingdom can increase its oil production by 1.5 million barrels a day
