Saudi Arabia is on track to meet its goal of expanding oil production capacity to 12.5 million barrels per day by the end of 2009, the head of the US Energy Information Administration said Tuesday.
EIA's Guy Caruso met with Saudi oil officials two weeks ago and he said they told him the kingdom may actually meet its expanded production goal sooner, possibly by the middle of 2009.
"They're on track to meet their goals ... maybe even a little ahead of schedule," Caruso told reporters at briefing on the EIA's new long-term energy forecast. "They told me they thought they might even be (finished) by the middle of '09," he added.
The EIA says Saudi Arabia currently has an oil production capacity of between 10.5 million and 11 million barrels a day, while the kingdom's actual output was forecast at 8.85 million barrels a day during November.
While Saudi Arabia is set to have more production capacity in 2009, Caruso said the officials did not tell him what they thought the kingdom's actual oil output would be at that time.
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