Saudis to boost daily oil output by 200,000 barrels, maybe more

06/23/2008 | Forbes

Saudi Arabia will increase oil production to 9.7 million barrels per day starting next month, and will produce more "if demand for such quantities materializes and our customers tell us they are needed," Oil Minister Ali al-Naimi said Sunday. It's unclear whether that will be enough to put a lid on oil prices, which were about $135 a barrel on Friday.

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