Saudi To Keep Crude Output High Amid Soaring Domestic Demand
Saudi Arabia looks set to keep crude output near record levels. This week’s start of the 400,000 b/d Jubail refinery comes on top of bumper Asian demand. But delays to gas production means fuel oil imports are rising.
The OPEC kingpin has been ramping up output since July, partly to meet rising export commitments and coinciding with the high summer demand season.
Gulf sources...