SAUDI ARABIA CUTS PRODUCTION TO BELOW 4MN B/D

Saudi Arabia has cut its crude oil production to less than 4mn b/d in support of the OPEC drive to restore stability to the world oil market and roll back prices to official levels, MEES is informed by an authoritative Saudi oil source. At below 4mn b/d, Saudi production is substantially less than the 4.35mn b/d notional output applicable to Saudi Arabia under the new OPEC ceiling of 16mn b/d (MEES, 5 November).

Stressing Saudi Arabia's...