4th July 2008 - Oil steady above $145 in Asia on Saudi declaration (NYT)

Saudi Arabia continues to insist that oil supply is already sufficient to meet buyer's demands and that supply problems are not the cause of the increasing oil price which is currently around the $145 a barrel mark. Saudi oil minister Ali Naimi has said that, if there is a demand from customers for higher levels of oil production, Saudi Arabia is ready to meet it.