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Wednesday, 27 January 2021

Saudi oil output responds to demand, not Libya

Reuters, Wednesday 14 Dec 2011
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Saudi Arabia will respond to demand for its oil rather than the pace of fellow OPEC member Libya's rising oil exports, Saudi Oil Minister Ali al-Naimi told reporters on Wednesday.

"If Libya increases it doesn't necessarily mean Saudi will cut," said Naimi at the start of an OPEC meeting.

"We don't react to that, we react to market demand," he said.

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