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Under pressure form US, Saudi plans record output, offers extra oil in Asia

OPEC has come under pressure from Trump to pump more before the US midterm elections in November, after a rally in crude to a 2014 high lifted American gasoline prices

Oil
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Even during the first round of bidding for discovered small fields, only one foreign company, Dubai-based South Asia Consultancy FZE, showed interest

Sharon Cho and Serene Cheong | Bloomberg
Evidence is mounting that Saudi Arabia is heeding US President Donald Trump’s call for OPEC to keep the oil market amply supplied and rein in prices.

The Middle East kingdom is offering extra crude volumes on top of its contractual supplies to some buyers in Asia, according to people with knowledge of the matter, as the OPEC’s defacto leader plans record oil output after unwinding a deal with its allies to curb output.

The Organization of the Petroleum Exporting Countries has come under pressure from Trump to pump more before the US midterm elections in November, after a rally in crude to