OPEC Countries Have The Ability To Produce Excess Oil

Looking to allay fears of rising oil prices, the oil minister of Saudi Arabia stated that hiscountry and other OPEC members have the opportunity to produce a surplus of oil,reported the Saudi Press Agency.

Saudi Arabia alone has a surplus of some 4 million barrels per day, the agency quoted the minister Ali al-Naim automatically.
Was not clear from the news agency report that al-Naim meant that Saudi Arabia hasadditional 4 million barrels, or may, if necessary.

OPEC Countries Have The Ability To Produce Excess Oil