Official Says Saudi Oil Output Has Not Peaked

Saudi Arabia pumps 9.5 million barrels of oil daily, with the capacity to produce 11 million barrels a day. By 2009, the country’s daily production capacity will be 12.5 million barrels, Naimi said, repeating an earlier pledge.

“I can assure you that we haven’t peaked,” Naimi said in response to a question. He added that Saudi Arabian production is headed toward a plateau where it “can maintain 12.5 million or 15 million for the next 30 to 50 years.”
StarTribune.com