SAUDI PRODUCTION IS EXPECTED TO AVERAGE 4MN B/D FOR OCTOBER

Saudi Arabia's crude oil production is now expected to average around 4mn b/d for the month of October, MEES understands from Saudi sources. This compares with around 2.7-2.8mn b/d for September and 2.1-2.2mn b/d in August, but is still below the Kingdom's OPEC quota of 4.35mn b/d.

The increase in Saudi output is, of course, apart from seasonal factors, largely attributable to the conclusion of number of new sales deals...