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Saudi Arabia to boost oil output in November – Minister

Saudi Arabia to boost oil output in November – Minister
The oil-rich Kingdom is able to produce 12 million bpds

Riyadh – Mubasher: Saudi Arabia on Monday said that it would raise its current 10.7 million barrel-per-day oil production in November,  Energy Minister Khalid al-Falih said.

The oil-rich Kingdom is able to produce 12 million bpds, Al-Falih told Reuters.

Saudi Arabia, the world’s biggest oil exporter, is committed to meeting India's, the country with the fastest-growing appetite for energy, mounting oil demands, the minister added during IHS CERA conference. 

“We could have another (round of) unanticipated disruptions that we have seen in Nigeria, Libya, Venezuela. And we have seen sanctions on Iran. These supply disruptions need a shock absorber and the shock absorber to a large extent has been Saudi Arabia,” Al-Falih said.