DUBAI (Reuters) - Saudi Arabia sees neither a decline in global oil demand nor a reduction in the kingdom’s exports due to increased output from Libya, Oil Minister Ali al-Naimi said on Sunday.
“I don’t think it will decline because, even with the global economic situation, the expectation for 2011 is still 1 million barrels more than 2010 and expectations for 2012 it is between 1.1 million barrels and 1.3 million barrels,” Naimi said in an interviewed on television channel Al Arabiya.
“The policy of the kingdom is to meet its client’s demands, (if) they demand for more we increase output, if they demand less we decrease output,” Naimi added.
Naimi also said the kingdom was working to increase gas supplies.
(Reporting by Mahmoud Habboush and Asma Alsharif)