Seoul, 26 April 2011: Reuters

Saudi Aramco chief executive Khalid al-Falih said on Tuesday Saudi Arabia has enough spare crude capacity to meet demand, as oil prices extend a rise above $120 per barrel.

"We are not comfortable with oil prices where they are today... I am concerned about the impact it could have on the global economy," Falih told an industry gathering in Seoul. He said his country has spare crude capacity to moderate current prices and doesn't see any tightness in global oil supply.

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