Saudis To Keep Some Oil on the Side
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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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OPEC oil ministers yesterday backed steps to end overproduction when members of the oil cartel meet in Cairo today. Saudi Arabia and others were authorised to open the taps in August as
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OPEC kingpin Saudi Arabia on Monday hinted the cartel would not raise either its official production rate or the price band at a ministerial meeting, as the oil price had stabilised.
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RIYADH: Saudi Arabia will increase oil production capacity to 11 million barrels per day (bpd) within weeks in a bid to curb record prices, Oil Minister Ali Al Nuaimi said yesterday.
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Oil prices steadied on Monday as OPEC  member Saudi Arabia cut exports, helping to pull the market  back from a five-month low hit earlier amid a bout of fund  selling.
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LONDON, November 29  - Saudi Arabiaâs Oil Minister, Ali Al-Naimi, reiterated today that his country is taking adequate steps to expand its sustainable oil capacity, while mentioning that supply-related fears have resulted in a $10-$15
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Bout of fund-led selling counters decision to cut supplies by top OPEC exporter Saudi Arabia. LONDON  - Oil prices fell to a five-month low Monday as a bout of fund-led selling countered a cut in supplies by top OPEC exporter Saudi Arabia.
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Saudi Arabia is urging global oil stocks be increased before the world&#39;s crude oil cartel consider cutting output. Members of the Organization of Petroleum Exporting Countries
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Saudi Arabia persuaded OPEC to raise oil output by 500,000 barrels per day on Tuesday in a gesture to consumer nations worried by the economic impact of $77 oil and rapidly diminishing fuel stocks.
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OPEC nations and Saudi Arabia in particular are standing in the way of getting financial help to developing countries to cope with global warming, the World Wide Fund for Nature (WWF) said on Thursday.
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Oil prices steadied on Monday as OPEC member Saudi Arabia cut exports, helping to pull the market back from a five-month low hit earlier amid a bout of fund selling.
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Appealing to Saudi Arabia to  encourage higher oil production to help lower prices is not in  the long-term interest of the United States, Republican  presidential candidate Fred Thompson said on Wednesday.
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WARSAW/DOHA  - Saudi Arabia and other OPEC members said on Wednesday they are not to blame for near-record oil prices, pointing the finger at a global shortage of refinery capacity and international political tension.
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VIENNA: Opec is keeping its foot to the pedal on oil production in a bid to push crude prices back below $US40 ($NZ62) a barrel. Risking a counter-seasonal fourth quarter build in stocks, Saudi Arabia will
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Saudi Arabia Oil Minister Ali Naimi said today he&#39;s not concerned about a sharp further fall in the price of oil, saying prices remain relatively high.
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Over the last year, Saudi Arabia has quietly endorsed a shift in strategy of pushing for oil prices higher than those of the last two decades.
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The Organization of Petroleum Exporting Countries (OPEC) says it is doing everything it can to stabilize oil prices. The reality, however, is that