There is “no rational reason” for prices at current levels and Saudi Arabia would like to see them fall, the kingdom’s Oil Minister Ali al-Naimi said yesterday in an editorial in the Financial Times. The nation can boost output by 25 …

to the country’s current capacity of 12.5 million barrels a day. He said what’s keeping oil prices high is the market’s belief in a potential oil shortage. In reality, Naimi said, there’s enough oil stocked up to supply the world with crude for 57 days.

to the country’s current capacity of 12.5 million barrels a day. He said what’s keeping oil prices high is the market’s belief in a potential oil shortage. In reality, Naimi said, there’s enough oil stocked up to supply the world with crude for 57 days.

for that matter – can do about rising oil prices. In fact, crude is still on track to reach $150 a barrel by mid-summer. As Saudi Oil Minister Ali Naimi pointed out last week, current oil supplies already exceed global demand by 1 million-2 …

Saudi to do all it can to mitigate high prices, Naimi says — No lack of supply, no demand that cannot be met, he says RIYADH (MarketWatch)-Saudi Arabia’s Oil Minister Ali al-Naimi said that there is no rational reason for current high oil …

Saudi Arabia (OPCRSAUD) can increase crude production by as much as 25 percent immediately if needed, the country’s oil minister said … and the impact of current prices, and the fear that we will have a repeat of 2008,” al-Naimi said.