OPEC’s Oil Output Climbs as Saudis Lead Pursuit of Market Share

OPEC bolstered crude production by the most in four months as Saudi Arabia led a surge of Middle East exports in a bid to reclaim market share, a Bloomberg survey shows.

Riyadh is steering the Organization of the Petroleum Exporting Countries and its partners to revive supplies swiftly despite faltering oil demand and an impending global surplus. The policy is adding downward pressure on crude prices — a potential salve for consumers and a fixation of President Donald Trump.