Saudi oil minisiter Ali Al-Naimi has said the Kingdom is always ready to cooperate with customers but to increase production, there must be customers ready to buy. Saudi Arabia increased production by 300,000 barrels a day on 10 May but Al-Naimi pointed out: “The reason behind the high oil prices is not created by supply and demand but due to the problem with the refineries, political tension in regions such as in South America and Iraq, the weak dollar and the role of investors in the commodities market.”
