`` Nice try , but no cigar . American will increase daily oil production from 9 million barrels to 9.7 million . Increase from 1981 , boosting production to highest level since July . Announcement at Jeddah energy summit to help ease pain of oil price hike . Saudis : Congress should give $ 1B for strategy , $ 500 M of which for developing nations .
American will increase daily oil production from 9 million barrels to 9.7 million . Increase from 1981 , boosting production to highest level since July . Announcement at Jeddah energy summit to help ease pain of oil price hike . Saudis : Congress should give $ 1B for strategy , $ 500 M of which for developing nations .