Saudis to Boost Oil Production.
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Saudi Arabia, the worldâs largest oil exporter, will raise production from 9.5 million barrels a day to 11 million barrels. An Oil Ministry official said the increase would go into effect within weeks.
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Saudi Arabia&#39;s oil minister Ali Naimi said Monday that the &quot;fear factor&quot; over supplies has added $10 to $15 a barrel to the price of oil and reiterated that his country is working toward lifting its sustainable oil production capacity.
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Oil prices were forced higher today by an outbreak of violence in Saudi Arabia and concerns that Opec may cut output. The cost of a barrel of light, sweet crude oil climbed
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OPEC will increase the cartel&#39;s oil production by 1 million barrels a day to meet the global demand for oil. Kuwaiti Oil Minister Sheik Ahmad Fahad al-Ahmad al-Sabah said the cartel
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Saudi Oil Minister Ali al-Naimi said in Abu Dhabi yesterday that his country was ready to meet rising demand for crude oil to ease the surge in world prices.
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Saudi Arabia sought to regain some control of oil markets Tuesday, promising to make available 800,000 barrels a day of new oil by the end of the month and to keep pumping crude vigorously.
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ABU DHABI Saudi Arabia, Kuwait and the United Arab Emirates vowed Sunday to go on expanding their production capacity to deflate record oil prices of above $53 a barrel, and Saudi Arabia, the biggest exporter, said it could bring on 1.5 million barrels a
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The kingdom&#39;s oil reserves, the world&#39;s largest, could increase by almost 77 per cent to top 461 billion barrels in a few years, the country&#39;s oil minister said Sunday.
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OPEC is keeping its foot to the pedal on  production in a bid to drag down oil prices but may be  reluctant to rubber-stamp extra supplies by lifting official  output limits, Saudi Arabia said on Tuesday.
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The Saudi oil minister inaugurated a new production plant on Sunday and renewed the largest oil exporter&#39;s support for stable prices by noting that Saudi Arabia was maintaining about two million barrels in spare output capacity.
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The Organization of the Petroleum Exporting Countries has agreed to increase output by one million barrels a day in a move to lower oil prices.
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Saudi Arabia will raise oil production only when the market justifies it, the kingdom's oil minister said Tuesday, in response to President Bush's request that OPEC nations increase output to reduce world oil prices.
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Top OPEC producer Saudi Arabia on  Wednesday questioned the need for OPEC oil producers to rein in  supply, saying the kingdom would keep crude output at current  high levels as long as customers wanted it.
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OPEC will increase oil production by 500,000 barrels a day to meet an expected surge in winter consumption.
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&quot;The kingdom has a surplus production of around two million barrels, which can be used when needed,&quot; says Saudi Arabia Oil Minister Ali al-Naimi.
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NEW YORK, December 27  - Saudi Arabiaâs oil reserves could increase 77% to 461 million barrels in a few years, since the oil rich country continues to maintain spare capacity of two million barrels per day to help control the global
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The Saudi announcement came after oil prices moved above the US$50 per barrel mark. Oil analyst Deborah White at Societe General bank, said: &quot;The Saudi announcement is not a surprise.