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Monday, October 10, 2011     FOR YOUR EYES ONLY

Saudis reduce oil output, cite 'fluctuating' demand

ABU DHABI — Saudi Arabia has reported a reduction in crude oil production.

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Officials said the Gulf Cooperation Council kingdom has cut oil output from 9.8 million barrels per day to 9.39 million over the last month, Middle East Newsline reported. They said the reduction reflected global market demand.

"Demand is always fluctuating, but our position is that we will supply whatever our customers ask for," Saudi Oil Minister Ali Al Naimi said on Oct. 8.

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"We will always continue to meet the demands of our customers."

Al Naimi said Saudi production in September dropped by more than 400,000 barrels per day from the previous month. He did not explain.

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