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Saudi Arabian Energy Minister Khalid al-Falih said in New Delhi on October 15 that oil prices would "easily be in the triple-digit range"
without Saudi Arabia's spare capacity as a market buffer, according to Platts News on October 15 in New Delhi.
Al-Falih made the remarks at the India Energy Forum in New Delhi, India, held by CERAWeek
.
"We expect and need recognition of Saudi
Arabia's efforts," he said.
These supply disruptions require a shock absorber, which already involves most of Saudi Arabia's spare capacity
.
”
Al-Falih later told reporters outside the venue that Saudi Arabia would boost crude production
next month.
Saudi Arabia currently produces about 10.
7 million barrels
of crude oil per day.
Saudi Arabian Energy Minister Khalid al-Falih said in New Delhi on October 15 that oil prices would "easily be in the triple-digit range"
without Saudi Arabia's spare capacity as a market buffer, according to Platts News on October 15 in New Delhi.
Al-Falih made the remarks at the India Energy Forum in New Delhi, India, held by CERAWeek
.
"We expect and need recognition of Saudi
Arabia's efforts," he said.
These supply disruptions require a shock absorber, which already involves most of Saudi Arabia's spare capacity
.
”
Al-Falih later told reporters outside the venue that Saudi Arabia would boost crude production
next month.
Saudi Arabia currently produces about 10.
7 million barrels
of crude oil per day.
