Saudis considering oil output hike to around 10 mil
b/d: report
London (Platts)--13Jun2008
Saudi Arabia is considering boosting crude output to around 10 million
b/d, the Middle East Economic Survey newsletter said Friday.
Oil minister Ali Naimi said in May during US President George W Bush's
visit that the kingdom would boost output by 300,000 b/d to 9.45 million b/d
in June.
"A sizable additional increase, at the levels MEES understands are being
considered, would put production up at near-record levels of around 10
million
b/d," MEES said.
"This level of output would have the added virtue of silencing the
section of analysts opinion which has increasingly cast doubt on Saudi
capacity claims," MEES added.