Bloomberg News

Saudi Arabian Oil Ministry Denies Newswire Report Yesterday

March 13, 2012

Saudi Arabia’s oil ministry denied a report by Dow Jones Newswires yesterday on the kingdom’s crude production policy, the state-run Saudi Press Agency reported.

No Saudi petroleum ministry official made any declaration about the kingdom’s oil policy, the SPA statement today said, citing Saudi Arabian Oil Minister Ali al-Naimi.

Dow Jones reported yesterday that Saudi Arabia is prepared to fill any gap in world oil markets caused by sanctions against Iran, but will do so only reluctantly, citing a Saudi oil official that it didn’t identify.

To contact the reporter on this story: Nayla Razzouk in Dubai at nrazzouk2@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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