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Saudi Arabia Sees Need to Pump More Oil

April 22 2011, 10:16

FMX | Connect – www.fmxconnect.com - (Reported 4/22/2011)

Saudi Arabia Sees Need to Pump More Oil

Source: CNBC

Top oil exporter Saudi Arabia needs to pump at least 9 million barrels per day (bpd) of crude for the next few years and is considering boosting capacity to meet rising demand, Petroleum Intelligence Weekly (PIW) said in a report citing Saudi sources this week.

Rising fuel demand led by growth in China, India and the Middle East has outpaced Riyadh's expectations, and Saudi Arabia now sees medium to long-term oil consumption higher than it had previously anticipated, trade publication PIW reported. For full article, click here.

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