OPEC’s largest producer hit a 12-year production record last month
Saudi Arabia increased oil production to 10.3 MMBOPD in March, setting a 12-year high for production in the country. Saudi Oil Minister Ali al-Naimi said the Kingdom will continue producing around 10 MMBOPD at a conference in Riyadh, reports Bloomberg. The March output is the highest since at least 2002, when the Joint Organizations Data Initiative began compiling output statistics.

Both Brent and West Texas Intermediate (WTI) were trading lower today on the news of increase...

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