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Saudis says kingdom ready to use spare oil capacity as needed




By Reuters

Petroleumworld 07 04 2018

Saudi Arabia's cabinet on Tuesday affirmed the kingdom's readiness to deploy its spare oil production capacity to maintain market balance and stability, a statement carried by state news agency SPA said.

The kingdom would use its spare capacity to address any future variations in supply and demand in coordination with other oil-producing countries, it said, after calls by U.S. President Donald Trump for Saudi Arabia to raise production.


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Reporting by Maha El Dahan, Writing by Katie Paul; Editing by Dale Hudson from Reuters. 07 03 2018


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