Saudi Arabia Quietly Plans to Increase Oil Output by 500,000 Barrels Per Day

(From UPI)

Saudi Arabia hasn’t said anything publicly, and seemed to tow the OPEC line following Sunday’s meeting with other major oil producers. . . .

[But] “Saudi Arabia apparently plans to quietly increase the oil supply in the short term to compensate for the shortfall in Iranian oil,” analysts from Commerzbank said Friday.

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