Awwal 13, 1432 / April 17, 2011, SPA -- The Minister of Petroleum and Mineral Resources Eng. Ali bin Ibrahim Al-Naimi said that the global oil market has a surplus in supply, pointing out that the Kingdom of Saudi Arabia can meet the consumers' demands at times of need. This came in a statement to reporters upon his arrival in Kuwait today to participate in the 4th Asian Ministerial Energy Roundtable Meeting to be convened tomorrow. Al-Naimi also said the Kingdom's production in February was 9.125 million barrels per day and in March 8.292 million barrels per day, expecting the production to exceed this level in April. Al-Naimi also said the decrease in the level of oil production between February and March is a clear evidence that the global energy market is unbalanced, stressing that the daily production capacity of the Kingdom of Saudi Arabia is 12.5 million barrels per day.
