Gulf: Saudi Arabia has the potential to increase its crude reserves by 77 per cent, Saudi Arabia's oil minister said on US TV show 60 Minutes. "The truth is here is the kingdom with more than 260 billion barrels. And I firmly believe that the potential to add another 200 billion barrels of oil is there to be found," Ali al-Naimi said. Saudi Arabia produced 9.05 million barrels of oil last month, according to data compiled by Bloomberg.
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