Saudi Arabia will quietly add extra oil to the market to offset a drop in Iranian production

Saudi Arabia will quietly add extra oil to the market over the next couple of months to offset a drop in Iranian production.

The kingdom is worried, however, that it might need to limit output next year to balance global supply and demand as the U.S. pumps more crude.

OPEC’s top producer came under renewed pressure last week from U.S. President Donald Trump to cool oil prices ahead of a meeting in Algiers between a number of OPEC ministers and allies including Russia.

https://www.cnbc.com/2018/09/27/saudi-arabia-will-quietly-add-extra-oil-to-the-market-to-offset-a-drop-in-iranian-production.html