Azerbaijan, Baku, Oct. 10 / Trend A. Taghiyeva /
Saudi Arabia has created a reserve of 2.5 million barrels of oil daily to be used in case of a shortage on the global market; Saudi Arabian Oil Minister Ali al-Naimi was quoted by Al Arabiya TV channel today.
He said that at present oil production in the country is 9.7 to10 million barrels per day. Production capacity is 12.5 million barrels per day.
Regarding the global oil prices, al-Naimi said that at present prices are reasonable. He did not rule out their growth in the next few days.
In August, Saudi Arabia exported eight million barrels of oil. Riyadh has repeatedly stated that it is ready to make up the shortage of oil in the world market which may arise in connection with the EU and U.S. sanctions against Iran's oil sector.
