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Saudis Triumph in Oil Market With Comeback From Covid Crisis

  • Riyadh’s output nears pre-Covid level while oil climbs to $80
  • OPEC+ meets on Monday to discuss revival of idle production
Saudi Aramco's Connected Khurais Oil Field

Photographer: Maya Siddiqui/Bloomberg

When the OPEC+ alliance of oil producers gathers next week, group leader Saudi Arabia can savor a moment of triumph. 

Eighteen months after slashing crude production during the pandemic, Riyadh is set to pump at almost pre-Covid levels of 9.8 million barrels a day this month as a recovering global economy clamours for energy supplies.