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Naimi makes statement on oil market
Saudi Press Agency Published in Saudi Press Agency on 03 - 08 - 2004

In an interview with the Saudi Press Agency about international oil market conditions, the Minister of Petroleum and
Mineral Resources Ali bin Ibrahim Al-Naimi was quoted as saying:
"The Kingdom of Saudi Arabia, in collaboration with the other OPEC countries, endeavors to ensure the stability of the international oil
market and prevent oil prices from escalating in a way that may negatively affect the world economy or oil demand."
"For achieving this goal," the minister added, "the Kingdom has increased its production during the last three months to meet the growing
demand for Saudi oil. This increase amounted to more than one million barrels per day, bringing to more than 9.3 million barrels daily the average
production of the Kingdom during the past three months. When the production of condensates and gas liquids is added, the production of Saudi crude
averaged to ten million barrels daily."
His Excellency said the Kingdom's policy aims at meeting all demands of its customers from international oil companies.
--More
2011 Local Time
1711 GMT

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