Saudi Arabia's Oil Minister said Tuesday that there is enough spare capacity for the oil markets. TiffanyThe kingdom is ready to meet any potential supply shortage in the wake of the current political unrest in Libya Wedding dresses, said Ali al- Naimi in statements to state-run Saudi Press Agency.The minister said that Saudi Arabia now has 3.5 million barrels per day of spare capacity.Naimi's remarks came as part of the latest efforts by the world 's top exporter to reassure the market in the wake of rising concerns over the Libya outages.Oil prices have risen sharply in recent weeks as political upheaval in North Africa has spread from Tunisia and Egypt into Libya Tiffany Pendants, a major oil exporter.Saudi Arabia and other members of the Organization of Petroleum Exporting Countries said they will make up for any shortfall in Libyan output.