The International Energy Agency hopes Saudi Arabia will maintain its current oil output level, Executive Director Nobuo Tanaka said Thursday.
"Saudi Arabia has very huge capacity and they have added capacity recently. They continue to supply where the demand is, that is their policy. We wish they will continue this policy of production level," Tanaka said at an energy event.
Tanaka also said current oil prices continue to be high despite the recent softening in Nymex crude prices.
"Still, we think at $103-$104 a barrel the price is very high. It is a burden especially for growing emerging economies without energy production," Tanaka added.