Saudis silent on reports they will increase oil production by 500,000 barrels

RIYADH, Saudi Arabia – Saudi officials are refusing to immediately confirm news reports that the world’s largest oil-producing country is set to raise production by about 500,000 barrels a day.

However, an adviser to Saudi Oil Minister Ali al-Maimi says his boss plans to comment on the report Sunday.

The New York Times and the Middle East Economic Survey, an industry publication, both reported Saturday that Saudi Arabia will increase its production to 10 million barrels a day, the most ever.

Saudi Arabia has called for a meeting of oil producing and consuming countries on June 22 in the port city of Jidda to discuss ways of dealing with soaring world energy prices.

AP