If they don't have a lot of additional oil to put on the market, it is hard to ask somebody to do something they may not be able to do.Perhaps my added emphasis will help you understand the magnitude of this statement. The sitting president of the United States of America, who recently admitted, "America is addicted to oil," made a comment, after meeting with King Abdullha, that Saudi Arabia might not be able to raise oil production. Of course there are people, knowledge people who have been saying this for at least a few years, but here is our president saying it in an interview with a major news network. This must have thrown his handlers into an uproar. No doubt this points to an exciting year, because in terms of oil production as Saudi Arabia goes, so goes the world.
You can watch the interview for yourself.
If you don't believe the president or if perhaps you still think peak oil is a few decades or even just a few years away, I suggest this informative PDF from Matt Simmons, energy investment banker, which concisely presents the realization that global conventional oil production peaked in May of 2005.
More on the Bush interview from Gail the Actuary at TOD and thanks to Sharon.