U.S. officials asked Saudi Arabia in a meeting last month to get more oil on the market, but the kingdom at the time refused to commit.
Saudi Arabia plans to immediately raise production to as much as 10 million barrels a day, according to two people representing the Gulf states who were familiar with the situation. The kingdom's recent rate of output is estimated at nine million barrels a day following the loss of oil supplies from Libya. The country doesn't officially disclose its production data.
When the US talks the Saudis listen


Once an expansion of a Texas refinery partly owned by Saudi Aramco is complete, Saudi Arabia is set to become the sole supplier for the plant, according to a person familiar situation.
Currently, Saudi Arabia supplies about half of total processing capacity at the Port Arthur, Texas, refinery by sending seven tankers a month. That number will rise to 27 once the expansion is complete, the person said.

Refinery operator Motiva LLC, a joint venture between Saudi Aramco and Royal Dutch Shell PLC, says the project, which will boost processing volumes from 285,000 to 600,000 barrels a day, will come online in the first quarter of 2012
And the price of gas tumbles


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