SAUDI ARABIA DENIES PLAN TO RAISE OUTPUT TO 9MN B/D

An authoritative Saudi oil source has categorically denied recent press reports to the effect that Saudi Arabia has threatened to increase its production to 9mn b/d by the end of the year unless the other OPEC countries fall into line on price and production discipline. The Saudi source also questioned the motives behind the propagation of the story which was said to have emanated from a "high western official" attending the IEA...