Saudi Arabia To Surpass Oil Output Record
From Al Arabiya
Analysts predict that Saudi Arabia will surpass its record oil output this year, despite pressure from other oil exporting countries to cut back and help increase world oil prices, the Wall Street Journal reported on Monday.
The Saudi high output comes to offset a decline from Iran which is under international sanctions.
“Our data shows that Saudi Arabia is actively going out there trying to take up Iran”s market share,” an analyst said.