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Saudi Arabia ready to fill oil supply gap, says oil minister

15 March 2012

Saudi Oil Minister Ali al-Naimi has affirmed the Kingdom's readiness to fill any oil supply gap - "perceived or real" - as oil prices rally on fears of a potential loss of Iranian output, Reuters has reported. Al-Naimi has pointed out that the oil market is generally balanced currently and there is ample production and refining capacity ... Saudi Arabia and others remain poised to make good any shortfalls - perceived or real - in crude oil supply.

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