Saudi Arabia's central bank chief said on Friday that his country would offer excess oil production capacity if needed to balance oil prices, and that he expected prices to stay stable.
Fahad al-Mubarak was speaking to a news conference at the inaugural meeting of the Financial Stability Board's regional consultative group for the Middle East and North Africa. The FSB is a global body handling financial regulation.
"If there is pressure on demand, Saudi Arabia will always offer excess capacity to bring balance to supply and demand and to balance prices throughout," he said.
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