Tuesday, 3 July 2012

Saudi Arabia keeps on pumping crude - FT.com

Oil prices have fallen below the key $100 a barrel, but Saudi Arabia is not lifting its foot off the accelerator.
Riyadh is moving into July pumping above its normal output for the sixth consecutive month, according to industry officials familiar with Saudi Arabia.
The kingdom has produced around 10m barrels a day, give or take 100,000 b/d, since February as Riyadh faced extra demands of crude from countries that were blacklisting Iran ahead of the introduction of European Union and US sanctions.

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