LOS ANGELES (MarketWatch) -- Saudi Arabian oil minister Ali al-Naimi said Monday that his nation could step in and increase crude output to make up for any shortages stemming from Russia-Ukranian tensions, reports said. Al-Naimi's comments came as pro-Russian separatists declared victory in their referendum to split parts of eastern Ukraine from the rest of the country. Al-Naimi, speaking on the sidelines of a conference in Seoul, also reportedly said that $100 a barrel was a fair price for crude oil CLM24, +0.02% UK:LCOM4.