Output or exports? OPEC members have argued for decades over which of the two they should monitor to gauge compliance with oil-output cuts. This month, Saudi Arabia has thrown a third metric – supply – into the debate. The move saw oil prices declining, with confused traders fearing Riyadh would pump more crude, thus complicating OPEC’s efforts to reduce a global glut and prop up the market. But sources in Riyadh argue that those worries are overblown. They say that while Saudi production could fluctuate slightly from month to month, supply will remain stable at around 10 million barrels per day (bpd), fully in line with the Saudi OPEC quota. “What we are watching closely is the supply. Saudi Arabia will not supply the market more than 10 million bpd,” a Saudi-based […]