You are here

Saudi Arabia lifts oil production to its highest level ever

Record 10.3m bpd output in March suggests strong demand and aggressive pricing to keep market share

Riyadh

SAUDI Arabia has revved up crude production to its highest rate on record, feeding unexpectedly strong demand from foreign refiners and increased capacity at home.

Oil Minister Ali al-Naimi told reporters late on Tuesday that the kingdom produced some 10.3 million barrels