CEO of world's largest state oil company, Saudi Aramco has convinced the worried-about-oil markets that company is ready to supply oil, in case of any oil supply shortage.

Company's Chief Executive Officer said that their company has enough capacity to compensate any shortage in oil supply, arising from Libya.

Al-Falih was talking to reporters in the eastern Saudi city of Khobar. He said that Saudi Aramco has facility of supplying more oil to meet incremental demand.

However, he did not revealed how much exactly company is going to raise the production. He said "The customer demand varies from day to day, so it's hard to tell by how much we will raise the output".

Recently, Saudi Arabian oil minister also convinced that country can raise production if any demand arrives. Oil output from Libya has been halted for few days from now because of public outburst against Dictator Muammar Qaddafi.

Though he has not yet given any signal of leaving position in near future. This led to hiatus in oil production of 1.6 million barrels a day. According to an estimate, Saudi Arabia is world's largest crude oil producer with an output of 8.4 million barrels a day.