Saudis offer to pump more oil

Saudi Arabia can pump an extra 1.3 million barrels of oil a day if the market requires it, the kingdom’s Oil Minister Ali Naimi said today.

“The kingdom is well prepared to meet all the requirements of the international oil companies if they need additional volumes, relying on the surplus production capacity of more than 1.3 million barrels daily, which could be used immediately if required,” he said.