Saudi Arabia is considering lifting partial export bans on cement and steel to relieve oversupply in the local market, economic news website al-Eqtisadiah quoted a customs department official as saying on Sunday.

Reuters reported that Saudi government bodies are studying whether to ease restrictions on cement and steel exports after local production doubled, exceeding the storage capacity of the kingdom's largest companies, customs department spokesman Essa al-Essa told Eqtisadiah without giving any timeframe for the decision.

The Saudi government originally imposed a ban on cement exports in 2008 to push prices down and accommodate demand from large government-funded infrastructure projects, although some companies were allowed to export at prices lower than those in the local market.