Nicosia, Dec 12: “Saudi Arabia is willing to supply its customers in Asian nations with the oil they need now and in the future, in times of abundance and in times of scarcity, ” Saudi Oil Minister Ali Naimi has said in a recent speech in Singapore.

The Saudi Minister said that Saudi Arabia supplied the continent of Asia with more than 4.5 million barrels of oil a day, approximately one half of the kingdom’s daily output and one quarter of total Asian imports.

Continuing the Minister repeated that his country would remain a key energy supplier to Asian countries. “ We see our commitment to the Asian market as a basic business value and we are willing and able to supply them with the petroleum they need now and in the future, “ he said and added that east and southwest Asia demand during the first six months of 2007 was estimated at more than 17 million barrels a day, making the region the second largest end consumer of oil.

Ali Naimi praised the growth made by Asian nations and their economic achievements. “Regional trade has grown rapidly over the years, reflecting the interdependence between nations. This is an important facet of our success and one that we should nurture if Asia’s growth miracle is to be sustained to deliver greater shared prosperity. The emergence of Asia as an economic powerhouse is truly breathtaking, ” he concluded. (ANI)