Saudi steady decisions show rising crude oil demand worries

The world’s largest oil exporter said it will keep prices for its benchmark crude grade steady for Asian customers for December cargoes, and that it would maintain its voluntary production cut until the end of the year. — Reuters

SAUDI Arabia made two recent decisions that on the surface seem to indicate a steady crude oil market outlook but may point to a ticking up in concern over the state of demand.

The world’s largest oil exporter said it will keep prices for its benchmark crude grade steady for Asian customers for December cargoes, and also announced that it would maintain its voluntary production cut until the end of the year.