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Saudi Arabia says ready to pump more oil to balance global market

The world's top crude exporter, said today it was prepared to use its spare production capacity

PTI I AFP  |  Riyadh 

oil, crude oil

Saudi Arabia, the world's top crude exporter, said today it was prepared to use its spare production capacity, estimated at two million barrels, to balance the global oil market.

"The kingdom is prepared to utilise its spare production capacity when necessary to deal with any future changes in the levels of supply and demand," a cabinet statement said following a meeting chaired by King Salman.

First Published: Tue, July 03 2018. 19:40 IST
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