With oil demand from the Middle East expected to surge, Saudi Arabia reported to OPEC its crude oil production was at its highest levels in more than 30 years. Saudi Arabia reported to the Organization of Petroleum Exporting Countries it produced 10.56 million barrels of oil per day in June, a 2.2 percent increase from the previous month. Saudi Arabia has maintained a high level of oil production despite the slump in crude oil prices, arguing it needs to protect its market share in an economy in flux because of the glut of U.S. oil. Saudi Oil Minister Ali al-Naimi said during an April meeting in Beijing his country was a reliable partner to China, which at the time was […]