Saudi Arabia May Not Expand Capacity Beyond 2009

Saudi Arabia's oil minister Ali al-Naimi has said that the Kingdom is set to achieve its targeted output capacity of 12.5mn barrels per day (b/d) by 2009, but that plans to expand capacity further have been shelved owing to concerns over projected oil demand. Citing the growing global trend towards energy efficiency and conservation initiatives, as well as the increasing prominence of alternative energy sources, al-Naimi has claimed that he does not see the need for more than 12.5mn b/d of sustainable capacity in the medium term.

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