Saudi Arabia Oil Production Gains Amid Battle for Market Share
How Saudi Arabia Can Flood the Oil Market
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Saudi Arabia is boosting oil production, pursuing its policy to maintain market share as prices fall.
Crude oil output is about 10 million barrels a day, New York-based Pira Energy Group said in a weekly report, citing discussions with Saudi customers. That would be the highest since July and up from an average of 9.7 million barrels a day in the second half of 2014, according to data from the Joint Organisations Data Initiative, an industry group supervised by the Riyadh-based International Energy Forum.