Ali al-Naimi
SEOUL: Oil Minister Ali al-Naimi says Saudi Arabia is producing near record levels of crude in April, underscoring the kingdom’s willingness to defend market share at a time when oil markets have staged a fragile recovery.
There are worries that growing production from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries (Opec) could snuff out a recent rebound in oil prices, particularly with economic growth in key oil consumer China the slowest in six years in the first quarter.
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