Saudi Minister of Petroleum and Mineral Resources Eng. Ali bin Ibrahim Alnaimi today reiterated Saudi Arabia's commitment to provide enough oil supplies and help create a stable oil market, but he said the challenge is bigger than could be shouldered by the Kingdom of Saudi Arabia alone amid increasing demand and ailing resources base in several areas. In a key speech before the 4the annual conference of Cambridge Energy Research Associates, currently ongoing in Houston, Texas, USA, Alnaimi gave definitions for oil ideal market, oil balanced market and said when oil prices drastically increase or drop, they lose their ability to continue, obliging the oil prices to always provide an impetus to rationalize this source of energy without pushing consumers to look for an alternative. He said there is need to draw road maps for both demand and supply of oil. Saudi Arabia's road map, its future plans to increase its capacity in the field of production and refining and its views on the future of energy have been drawn, he told the conference. However, he said, the oil road map is one of the most difficult to draw as it is subject to changes, fluctuations and interference of unforeseeable elements, he said. --More 23 04 Local Time 20 04 GMT
