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

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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.

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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.

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

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