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.

Write to Summer Said at summer.said@dowjones.com

(END) Dow Jones Newswires

15-06-12 1517GMT