"We are investing now to help supply uninterrupted energy when the global economy recovers, " said al-Naimi.
Al-Naimi stated that this year, spare capacity will reach 4.5 million bpd upon completion of the Khurais project.
Ali Naimi, the Saudi oil minister, usually moves markets when he speaks.
Stephen Hadley, Bush's national security adviser, said Saudi Oil Minister Ali al-Naimi reiterated his pledge to give customers all the oil they want.
Al-Naimi said as much, asserting that within OPEC only the Kingdom has meaningful excess capacity that it could bring online to meet demand.
According to the Committee to Protect Journalists, Ammar Mohamed Zado, Ahmed Adnan Al-Ashlaq and Lawrence Fahmy Al-Naimi worked for the Shaam News Network.
Saudi Arabia's energy minister, Ali al-Naimi, is now urging petroleum exporters to raise the supply of oil in order to bring prices down.
Saudi oil minister Ali Naimi said countries around the world needed to work together to ensure energy supplies remained "secure and reasonably priced".
But it is Ali al-Naimi, Saudi Arabia's oil minister, whose word really counts: he has responsibility for a quarter of the world's oil reserves.
Among other assignments, Al-Tunisi launched Aramco's first commodity forecasts--which she broached, with trepidation, before a dozen directors, including Chairman Ali Al-Naimi and President Abdallah Jum'ah.
Saddam Hussein has already sharply reduced his exports, but the extra Saudi oil promised by Mr Naimi has yet to materialise on the global market.
In January, Ali Naimi, the Saudi oil minister, said that the world's largest oil producer aimed to keep oil prices at the triple-digit level throughout 2012.
The Saudis are testing similar systems in heavy oilfields where Al-Naimi says they could boost the potential oil to be squeezed from a field sixfold to 40%.
Mr Naimi now says he actually wants to see oil stocks grow in coming weeks, so that the world could weather a sharp surge in demand next winter.
Saudi Arabia's oil minister, Ali Naimi, points to an unexplored area on the Iraqi-Saudi border the size of California, and argues that such untapped resources could add 200 billion barrels to his country's tally.
Before things get that far, Washington will re-plead its case to Saudi Arabia to open the taps, or at the very least prompt Ali Naimi (the long standing Saudi oil minister) to quell the market with the right kind of supply side messages.
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