Saudi Arabia Willing to Produce More Oil

Saudi Arabia's oil minister said Sunday the kingdom was willing to produce more oil if its customers need it, according to a published media report.

Oil Minister Ali al-Naimi did not, however, provide a specific target for such an increase, according to the report by the Associated Press.

With the price of oil at stratospheric levels -- a barrel of crude closed near $135 Friday -- the U.S. and other countries have been pressuring oil-rich Saudi Arabia to ratchet up production.

The kingdom has already announced that it would pump 9.7 million barrels a day starting in July, the report noted. ...