Saudis Set to Boost Oil Production

     Saudi Arabia is signaling that it is going to boost its supply of oil on its own after failing to convince other oil producers to jointly¹ agree to more production.

    Several news agencies reported Saturday that the Saudis could increase their oil production by as much as 13 percent in the coming days to 10 million barrels a day or more. The Saudi newspaper Al-Hayat reported that most of the additional（附加的额外的） output would go to China and other expanding Asian economies.

    But the increase in the amount of oil on the world market would tend to trim the price of crude, benefiting all consuming nations.

    Earlier in the week, Saudi Arabia was not successful in its bid to convince a majority of the other 11 countries in the Organization of the Petroleum² Exporting Countries to increase their production. Saudi Arabia contended that the increased production is needed to meet the rising world demand for oil and account for the loss of crude on the global market because of Libya's cut in production during the current uprising.

    Saudi Arabia is the world's biggest oil producer. It is a major exporter to the United States, which is heavily dependent on oil to help fuel the world's largest economy.  But the high cost of crude - hovering³ near $100 a barrel on the New York market - has slowed the recovery from the global recession in the U.S. and elsewhere.(本文由在线英语听力室整理编辑)

1 jointly   

ad.联合地，共同地

参考例句：

• Tenants are jointly and severally liable for payment of the rent. 租金由承租人共同且分别承担。
• She owns the house jointly with her husband. 她和丈夫共同拥有这所房子。

2 petroleum   

n.原油，石油

参考例句：

• The Government of Iran advanced the price of petroleum last week.上星期伊朗政府提高了石油价格。
• The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。

3 hovering   

鸟( hover的现在分词 )； 靠近（某事物）； （人）徘徊； 犹豫

参考例句：

• The helicopter was hovering about 100 metres above the pad. 直升机在离发射台一百米的上空盘旋。
• I'm hovering between the concert and the play tonight. 我犹豫不决今晚是听音乐会还是看戏。