Saudi Arabia Can Raise Capacity a Third, Saleri Says

(Bloomberg) — Saudi Arabia, the world


Saudi Arabia, which has the capacity to supply 10.8 million barrels of oil a day to the world market, produced 8.4 million in December, according to data compiled by Bloomberg.

The Organization of Petroleum Exporting Countries, of which Saudi Arabia is the biggest member, agreed on Dec. 17 to curb supply by 9 percent starting Jan. 1 as declining demand led to a collapse in prices.