PARIS, April 28 (Xinhuanet) -- The head of the International Energy Agency (IEA), Claude Mandil, on Thursday said that Saudi Arabia's plans to increase its oil and gas production capacity are"extremely convincing".

    Mandil said at a news conference that the comments made by Saudi Oil Minister Ali al-Nuaimi last week in Paris that Saudi Arabia would use its excess capacity if necessary and that it planned to double investment in new gas and oil projects over the next five years were "extremely interesting and convincing."

    "The kingdom has a sustainable production capacity of 11 million barrels per day, that means an excess capacity of 1.5 million barrels per day," the Saudi minister said at the sixth international oil summit on April 21.

    "Saudi Arabia has proved in the history not only a tradition ofkeeping an excess capacity, but also not hesitating to use it whenit is needed by the market conditions," he added.

    Mandil said the world oil market at the moment "appears to be very well-supplied -- it is slightly over-supplied" and warned that the volatile oil prices still "too high" would pose problem. Enditem