Saudi Arabia had hiked output to 10 million barrels per day in April, Al-Naimi said. Output of 10 million bpd would be the highest since November, when Riyadh pumped more than it had done for decades.
The minister also said other OPEC producers were raising output, which, along with increased Saudi production, is ensuring that global oil inventories are at full capacity.  “The global inventories in Saudi Arabia and around the world are full,” he said. “Other OPEC members, such as Libya, Iraq and Angola, have also taken strides toward increasing output.” 
Al-Naimi pegged output in March at 9.9 million bpd, when he said Saudi Arabia was prepared to produce at its full capacity of 12.5 million bpd if needed. He identified $100 a barrel as an ideal price for producers and consumers earlier this year.
Brent traded above $120 a barrel yesterday and has risen about 13 percent this year as tightening US and European sanctions target exports from Iran.