| 12.12.2012 - Saudis cut oil output to lowest in a year |
| Saudi Arabia has cut oil output to its lowest level for a year as a combination of surging US crude production and weakening economic growth sapped demand. The sharp fall in Saudi production, details of which were published ahead of a meeting in Vienna of the Opec oil cartel, contrasts with surging US energy output as hydraulic fracturing or “fracking” have unlocked vast quantities of shale oil and gas...............................................Full Article: Source |