| Saudi Arabia wasn't bluffing. The Kingdom increased its oil exports to the highest level since 2005 in March, official data from the Joint Organisations Data Initiative (JODI) showed, as Opec's most powerful member made good on its promise to try to take back market share from other producers, reports David Sheppard, deputy commodities editor.
Its oil exports were 7.89 million barrels a day in March, a 10 per cent increase on the same month last year, despite rising domestic demand. This was the highest since November 2005 when it reached 7.96m b/d...............................................Full Article: Source
|