SAUDIS MAINTAIN 1.5M BPD IN RESERVE

ABU DHABI [MENL] -- Saudi Arabia has pledged to maintain at least 1.5million barrels of oil per day in spare production capacity in an effort tostabilize prices. Officials said the kingdom plans to develop and expand oil fields toensure excess capacity. Riyad, producing 9.5 million barrels per day, hasbeen accelerating development of the Haradh oil field, with a currentcapacity of 300,000 barrels per day.