Saudi Arabia Reports It Can Fulfill Any Oil Shortages

Jan. 30, 2012 12:22PM PST

Reuters reported that according to Saudi Arabia’s Oil Minister Ali al-Naimi, Saudi Arabia has the potential to fulfill any future world oil shortages since its gas output are rising.

As quoted in the market news:

Saudi Arabian gas production rose to 10.7 billion cubic feet per day (bcf) in 2011 from just 1.65 bcf in 1981 and aimed to reach overall capacity 16 bcf per day by 2020.

Click here to read the full Reuters report.