Saudi Arabia will boost its crude oil production in the coming months as it expects stronger demand, Oil Minister Khalid al-Falih said this weekend, as quoted by S&P Global Platts, after President Trump last week lashed out at OPEC again for allowing prices to rise too high. Al-Falih added, however, that production levels will be determined by customer demand and will not be a concerted effort to influence prices. Many would smile ironically at this statement, but it has been Riyadh’s official line that demand is the only factor determining production. Saudi Arabia pledged in June to increase its crude oil production to help rein in prices, but July saw disappointing daily figures at 10.29 million bpd. In August production rose further, to 10.42 million bpd and this month, said Al-Falih, it will be even higher. “Our plan is to respond to demand. If demand [for Saudi crude] is […]