Archive for Sunday, June 15, 2008

Oil chief to address reports of increase

June 15, 2008


— Saudi Arabia's oil minister today will address reports that the world's largest oil-producing country is set to raise production by about 500,000 barrels per day, his adviser said.

The increase would bring Saudi Arabia's oil production to 10 million barrels a day, the country's highest ever, according to reports by The New York Times and the Middle East Economic Survey, an industry publication.

Adviser Ibrahim al-Muhanna told The Associated Press on Saturday that he could not confirm the reports, but added: "Minister Ali al-Naimi will clarify this tomorrow."

Saudi Arabia has called for a meeting of oil producing and consuming countries on June 22 in the port city of Jiddah to discuss ways of dealing with soaring energy prices.


Jim Phillips 9 years, 10 months ago

They must have gotten permission from Chaney and Bush to increase production. (Sarcasm intended).

Commenting has been disabled for this item.