Market Report, "Saudi Arabia Oil & Gas Report Q3 2013", Published
As the world's swing producer, and the largest oil producer in 2012, Saudi Arabia maintains an outsized influence in the global market. Pressured by rising production from Iraq and non-OPEC members, as well as bearish sentiment regarding global demand, we expect a decline in Saudi output in 2013 compared to 2012. Looking ahead, we see slow gains in production, with downside risks as Saudi Arabia seeks to balance growing supply and recovering demand while keeping prices high enough to support...
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