Saudi Production Growth Detailed in Paris Oil Summit

Large projects recently completed or under way in Saudi Arabia represent production capacity of 3 million b/d of crude oil, the kingdom’s energy minister said at an Apr. 21 meeting in Paris.

At the 6th International Oil Summit, Saudi Petroleum and Mineral Resources Minister Ali I. al-Naimi also pointed to the growing influence on oil prices of factors other than supply, demand, and inventories.

Other speakers noted the complexity of the current oil market and the need in a growing market for large exploration and production projects.
Oil & Gas Journal