Record crude output raises rebalancing questions

摘要

Saudi Arabia boosted crude production to a record 10.67mn b/d last month, partly to meet peak summer demand and to satisfy increased demand from buyers, oil minister Khalid al-Falih says. Demand for Saudi crude remains strong and the global market is in the process of rebalancing, al-Falih said in an interview published by state-owned news agency SPA on 13 August. “Despite the bearish sentiment engulfing the market, we still see strong demand for our crude in most parts of the world, especially as supply outside Opec has been declining fast, supply outages increasing and global demand still showing signs of strength,” al-Falih said.