2004 News Story

Minister announces increase in Saudi oil production

Minister of Petroleum and Mineral Resources Ali Al-Naimi announced today Saudi Arabia’s proposal to raise the production ceiling of the Organization of the Petroleum Exporting Countries (OPEC) by more than two million barrels per day. The Kingdom has already allocated to its customers around 9.0 mbd of crude as of June 2004.
[Press release: oil minister’s statement]
[Press release: Prince Bandar’s comment]