Kuwait local newspaper "Arab Times" recently quoted the Kingdom of Saudi Arabia's King Abdullah as saying, due to speculation, as well as heavy tax burden on oil prices is the main reason behind the continuing rise, so, even if oil prices do not increase oil production Will be reduced.
Saudi Oil Minister Ali Yimi June 30 that Saudi Arabia is ready to provide its consumer market by the quantity of oil, but now the market's oil supply is adequate.
Riyadh has already promised in July, producing 9.7 million barrels of oil per day, making the country since the May crude oil output has increased by 550,000 barrels.
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