Saudi Arabia has pledged to meet oil demand: OPEC chief

Saudi Arabia has assured the Organization of Petroleum Exporting Countries (OPEC) that it is “committed, capable and willing” to ensure the oil market will not face any shortages, OPEC secretary-general Mohammed Barkindo said on Wednesday, cited by Reuters.

Barkindo cited a speech by Saudi energy minister Khalid Al-Falih at a conference in India on Monday, and said the Kingdom remains ready to meet market demand.

“As OPEC, we remain focused on our common objectives,” Barkindo said, adding that Saudi Arabia has “a healthy spare capacity to serve as a buffer against any emergency.”