BREAKING NEWS

Eric Cantor: Saudis have enough oil to make up for Iran

By REUTERS

JANUARY 14, 2012 05:28

Saudi Arabia says it has enough oil output capacity to meet global customers' needs if new sanctions keep Iran from exporting oil, a top US Republican lawmaker said on Friday.

House of Representatives Majority Leader Eric Cantor spoke to Reuters by telephone from Europe after several days of meetings in the Middle East, including Saudi Arabia. Saudi oil minister Ali al-Naimi was among the officials he met.

"The Saudi government indicated that it was ready and able to meet needs of its customers," Cantor told Reuters. Saudi Arabia is the world's largest oil exporter. Its top customers include the United States, Japan, China and South Korea.

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