Saudis boost oil production

RIYADH, Saudi Arabia, May 16 (UPI) -- Saudi officials said Friday that oil production in the country is being increased by 300,000 barrels a day to meet the demands of its customers.

Saudi Oil Minister Ali al-Naimi made the announcement after U.S. President George W. Bush asked Saudi King Abdullah to increase oil production as a means of offsetting U.S. gas prices, The Washington Post reported Friday.

"On May 10, we increased our response to our customers by 300,000 barrels because they asked for it," Naimi said. "So our production for June will be 9.45 million barrels per day."

The official said the increase followed requests from "about 50 customers worldwide." He said most of the extra oil is bound for the United States.

Prince Saud al-Faisal, the Saudi foreign minister, said at the briefing that Bush had sought such an increase during his meeting with Abdullah, The New York Times reported.

"The president showed great concern for the impact on the American economy," adding, "We of course sympathize with that."

The announcement came as oil prices reached nearly $128 a barrel Friday, the Financial Times reported.