Saudi Arabian Crude Oil Production White House Statement.

We have received official confirmation of today's reports that the Government of Saudi Arabia intends to continue production of 9.5 million barrels of oil per day-1 million barrels above its established limit—for 3 more months.

President Carter welcomes this decision as "a constructive complement to the efforts of the oil-importing nations to curb consumption and switch to other fuels."

"I hope no one will take this news as a signal to relax the effort that each citizen must make to ease our demand on a limited world supply of oil," the President said.

Continued high production by Saudi Arabia and several other countries will relieve concern about the adequacy of oil supplies this winter. It will permit full restoration of oil inventories drawn down after Iranian oil exports were halted last winter and subsequently reduced to about half their usual volume. It should help to stabilize prices in the world oil market.