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OIL PRODUCTION

Saudi oil production rises in August after surprise July drop

Saudi Arabia’s energy minister Khalid Al Falih announced on Tuesday plans to develop the country's gas resources and extending a grid to UAE, Oman and Kuwait.
Saudi Arabia’s crude oil production rose again in August following a surprise drop in prices in July, according to reports.

GLOBAL OIL MARKETS

Saudi Officials, Current and Former, Downplay Oil Demand Concerns

OPEC expects an average decline in demand of 6.9 mbpd over the course of the year. 
year
Saudi officials downplayed the risk of waning demand for oil as electric vehicles become more mainstream, according to comments made by Saudi Aramco's CEO Amin Nasser and by former Minister of Petroleum Ali Al Naimi.
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