Al-Naimi: Kingdom will not limit oil output, can meet customer demand

Updated 30 December 2015
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Al-Naimi: Kingdom will not limit oil output, can meet customer demand

ALKHOBAR: Petroleum and Mineral Resources Minister Ali Al-Naimi said the Kingdomdoes not limit its output and has the capacity to meet additional demand, state television Al Ekhbariya reported.
“The increase in production depends on ... the demand of the customers. We meet our customers’ demand, there is no longer a limit to production, as long as there is demand, we have the ability to meet demand,” Al-Naimi said.
The Wall Street Journal, which reported the same comments as Al Ekhbariya, also quoted Al-Naimi as saying Saudi Arabia’s oil policy was “reliable” and would not change.
He has made similar comments in the past when asked about plans to boost production.
“We expect — from now on — efficiency of energy consumption to increase, which means the energy consumed will be reduced,” Al-Naimi said, in reference to the recent subsidy reforms.
On Monday, Saudi Aramco Chairman Khalid Al-Falih said his country was better equipped to wait out low oil prices than other producers. The comment was in line with Saudi Arabia’s no-cut oil policy on output despite a sharp fall in global oil prices since mid-2014.


Dutch carrier KLM says it will halt flights to Iran

Dutch carrier KLM. (Shutterstock)
Updated 21 July 2018
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Dutch carrier KLM says it will halt flights to Iran

DUBAI, United Arab Emirates: Dutch airline KLM says it will halt flights to Tehran “as a result of the negative results and financial outlook” following the US withdrawal from the Iranian nuclear accord.
The airline, part of the Air France KLM group, made the announcement in a short statement on its website Saturday.
KLM said its last flight will leave Amsterdam on Sept. 22 and return on Sept. 23.
KLM ceased flights to Tehran in 2013, resuming them in 2016 after the nuclear deal was signed. That deal saw sanctions on Iran lifted in exchange for it limiting its enrichment of uranium.
In May, President Donald Trump pulled America from the atomic accord, imperiling it.
Air France resumed flights to Tehran in 2016 after an eight-year absence. The airline continues its flights.