Saudi Arabia’s Crude Oil Supply Rumored to Have Fallen in September

Saudi Arabia’s oil supply to markets allegedly dropped as its production climbed.

According to Bloomberg:

The world’s biggest crude exporter supplied 9.36 million barrels a day last month, a reduction of 328,000 barrels daily from August, according to the person, who asked not to be identified, citing policy. The supply figure excludes what’s stored. Saudi Arabia produced about 100,000 barrels a day more than in August, the person said.

Richard Mallinson, an analyst with Energy Aspects Limited, said:

If this was an intentional cut by Saudi Arabia, I’d expect them to have cut the actual amount of oil produced and not just the supply to market.

Click here to read the full article.