Despite OPEC's recent agreement to curtail oil production by 1.5 million barrels/day, Saudi Arabia has yet to inform any of its customers of any cuts or decreases in November's oil supply. Saudi Arabia is notorious within OPEC for often going to great lengths to ensure that world markets remain well supplied and prices remain low. According to trade sources in Europe and Asia, Saudi oil supply will not be cut in the November and may stay at full production through December. As far as the production cuts are concerned, OPEC president Chakib Khelil told Algerian radio that the kingdom was key to OPEC's success and warned that prices could be affected if the world's biggest oil exporter took its time over the cuts. We will have to wait and see if the Kingdom decides to play along with OPEC's plan to put a floor under the dropping price of oil.See the article here. -V
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