Saudi Arabia's Attempts to Control Oil Prices Continue
In
March Saudi Arabia managed to increase their oil production to 10.1
million barrels per day, their highest output in 31 years, as they tried
to compensate for the declining supplies coming out of Iran. This
volume saw them become the largest crude oil producer in the world,
overtaking Russia for the first time in six years.However, a month later
they dropped their production volume again as oil prices started to
fall, allowing Russia to retake their place at the top. In July Saudi
Arabia produced just 9.8 million barrels a day, compared to Russia’s…Read more...http://oilprice.com/Latest-Energy-News/World-News/Saudi-Arabias-Attempts-to-Control-Oil-Prices-Continue.html
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