Ali Naimi Quotations

make it more difficult to overcome these bottlenecks in the system.

I don't comment or interfere in other countries, particularly a country that is very friendly to Saudi Arabia.

I'm always concerned about these types of things. We've said volatility in the market isn't a benefit to the producer and the consumer.

It is an excellent gesture from OPEC to provide 2 million barrels a day of spare capacity to the market, ... If the market feels it needs additional crude, they're welcome to it. It's there.

OPEC says it has 2 million. You believe it or not, ... all they have to do is ask us.

We have offered up to 11 million (barrels a day), but have had no response whatsoever.

Uppermost in our minds is to maintain stability in the markets, ... We recognize that there is a need for additional production. The issue is when and how much.

These are turbulent times for oil markets. Prices are under pressure because the petroleum industries infrastructure is stretched thin. Most of the spare capacity of the 1980s and 1990s has disappeared, resulting in a system that has a much smaller margin for error.

I have no control over prices. We accept that they're high, and of course, we want them to come down.

But in the intervening years, when we were supposedly facing ap precipitous decline, world oil reserves more than doubled.

Government policies aimed at reducing oil demand create another element of uncertainty for producers. This added risk is detrimental to timely investment decisions.

The current price level is providing the returns needed to attract adequate investment. We believe spare crude oil production capacity will grow sufficiently in the next 3-4 years to restore some margin of safety to world crude markets.

The crude is available, ... If you want it, there it is.