Naimi said. He also stressed that the Saudi oil policy is absolutely clear as regards OPEC because this policy has been based on moderation in all its decision-making concerning the market and the continuation of development of its oil fields; raising its production capacity until it had reached 12 million barrels per day. "Currently, it is producing 8 million barrels per day," he said and noting that this part of the Kingdom's policy is aimed at providing a reserve capacity to cope up with any price fluctuations in the oil whatever might be the causes. As for the role being played by the General Secretariat of the International Energy Forum, the Minister of Petroleum and Mineral Resources indicated that the Secretariat was incepted upon the directives of the Custodian of the Two Holy Mosques King Abdullah Ibn Abdulaziz in a meeting held in the year 2000 to discuss ways to find a General Secretariat in Riyadh to frame dialogue between oil producing and consuming countries, indicating that in 2002 a framework for the Initial Charter project was set, and it was renewed in the meetings of the forum this year. --MORE
