Minister: Saudi has spare oil capacity to meet Asia’s needs

(MENAFN) Saudi Arabia’s oil minister said that his country is keeping spare capacity to meet the needs of Asia’s fast-growing economies, labeling the region the country’s chief customer, Reuters reported.

In a meeting discussing oil cooperation, he told Asian ministers that Riyadh was dedicated to maintaining spare production capacity in the range of 1.5 to 2.0 million barrels per day to meet additional demand should need arise.

The minister added that Saudi Arabia had a solid track record as a responsible and reliable energy supplier closely monitoring growth of petroleum demand in Asia to anticipate future needs so that they can be met without delay.
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