Saudi Arabia says it won't flood oil market before Opec meeting

Kuwait

SAUDI Arabia, the world's biggest oil exporter, won't boost output to capacity and flood the market, the kingdom's energy minister, Khalid Al-Falih, said as members of the Organization of the Petroleum Exporting Countries (Opec) plan to meet this month to discuss ways to stabilise crude prices.

Saudi Arabia isn't concerned about global demand in spite of a drop in prices and a slower economy, Mr Al-Falih said in an interview with Al-Arabiya television. The country is able to pump as much as 12.5 million barrels a day of oil, he said in comments broadcast during an official visit to buyers in Asia, its biggest market, including China.