Saudi Arabia: Looking to keep oil output near record levels - Investec

Research Team at Investec, suggests that the OPEC giant Saudi Arabia's new oil boss is reported to be looking to keep oil output near record levels to stunt the growth of the Shale industry, a continuation of current Saudi policy.

Key Quotes

“The news may hurt oil prices as investors have been continually teased with output limitation agreements from the oil consortium without any action to date. The Dollar has generally made back a little ground across the board, with risk sentiment suffering last week after a decent run in April.”