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Aramco Ready to Make Up Any Shortfall as Libya Exports Cut

Saudi Aramco, the world’s largest state oil company, is ready to compensate for any shortfall in crude supply, Chief Executive Officer Khalid Al-Falih said, as oil prices rally on potential shortages from Libya.

Saudi Arabian Oil Minister Ali al-Naimi said on Feb. 22 that his country and other OPEC members would make up for any production losses. The International Energy Agency said in a Feb. 25 statement that Saudi Arabia has been offering extra crude supplies to offset lost Libyan barrels.