October 3, 2018 / 11:58 AM / a month ago

Saudi Arabia plans oil output hike in November: energy minister

MOSCOW (Reuters) - Saudi Arabia’s Energy Minister Khalid al-Falih said on Wednesday the kingdom will further raise oil production in November from the level of 10.7 million barrels per day.

Speaking at a conference in Moscow and sitting with Russian President Vladimir Putin, Falih said Saudi Arabia has weekly communication channels with Russia in order to stabilize global oil markets.

He also said that oil producers have added around 1 million bpd of combined output in “recent weeks and months”.

Reporting by Dmitry Zhdannikov, Denis Pinchuk Olesya Astakhova Oksana Kobzeva writing by Vladimir Soldatkin

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