| There is proof that Saudi Arabia is more interested in trying to kill competition in the oil industry at the expense of cratering oil prices - its oil production just hit a record high.
The country said output increased by 123,000 barrels per day, which pushed overall production for July to 10.67 million barrels per day. This surpasses the previous record of 10.56 million per day from June last year. While Saudi does pump out more oil usually in the summer months to sate domestic demand, the record production level is likely to be scrutinised because oil prices are still around 55% lower than they were since June 2014...............................................Full Article: Source
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