08.02.2016 - 2016 growth in Saudi oil sector to remain positive
Annual growth in the Saudi oil sector will remain positive in 2016 with average oil output expected to increase slightly, as the Kingdom continues to protect its share in the oil market, according to a report. The current period of low prices is set to remain throughout 2016 pulled down primarily by persistently high oil supply, stated the report from Jadwa Investment. “Saudi crude production averaged 10.2 million barrels per day in 2015 and we do not see any cuts in production to support upward movement in prices going forward. We therefore expect 2016 Saudi production to be unchanged, year-on-year, at 10.2 million barrels per day in 2016,” added the Jadwa economists...............................................Full Article: Source
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