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Oil bear market shows Saudis still call the shots

Analysts see oil producers as the losers and consumers as the winners, as the kingdom keeps its production steady even as prices hit a four-year low

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Saudi Arabia increased September oil output by 0.5 per cent to 9.65 million barrels a day, according to data compiled by Bloomberg, as Opec pumped 30.9 million barrels a day, the most in a year.

New York

THE bear market in oil is showing the world there's still only one country in a position to choose winners and losers in the global market: Saudi Arabia.

The world's largest oil exporter is trying to protect its market share by keeping its production steady even as prices