Friday, Jun 15, 2012
By Summer Said
VIENNA--Top oil exporter Saudi Arabia will continue to supply its customers with their needed crude as long as markets remain stable, a Gulf source familiar with the Saudis' thinking said Friday.
"Saudi Arabia will continue to supply its customers with their needed oil within the context of [a] stable oil market," the person said.
"The Saudi policy is to ensure the market is well-supplied and balanced," he said.
The Organization of Petroleum Exporting Countries Thursday kept its combined production ceiling for its 12 members at 30 million barrels a day, a status quo result that had been telegraphed earlier this week following a bilateral meeting between ministers from Saudi Arabia and Iran, who lead rival factions within OPEC.
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(END) Dow Jones Newswires