The increase in Saudi Arabia's oil production from 9M to 9.7M barrels daily, will lower the price of petrolium products.
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http://www.bloomberg.com/apps/news?pid=20601116&sid=agZ1gqbuhxpo&refer=africa
If increasing supply could lower the price, why doesn't the US/UK increase production in Iraq? They have the 2nd biggest reserves of oil & gas in the world and could quite easily swamp the market to drive the price down.