Tuesday, 31 July 2012 16:59

Saudi Oil Output Seen at Record Pace

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Saudi Arabia is on track to surpass its record oil output this year, analysts said Monday, offsetting a decline from Iran because of international sanctions, despite pressure from other oil exporters to cut back and help bolster world oil prices.

High Saudi output helps keep oil prices down, which is good news for fragile economies in the U.S. and Europe, which rely on the kingdom to help keep up supply as they implement sanctions intended to press Iran over its nuclear program.

Wall Street Journal article

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