Saudi Production falls slightly as Opec production falls 425,000 bpd
October 06, 2008 at 09:19 AM EDT
[Skip to the end] Production falling some but overall demand probably remains high, as reported inventories remain very low, as the GMIL (Great Master’s Inventory Liquidation) may still be a factor as more pension funds resist adding to passive commodity strategies. Several months ago a Saudi official said he though 85 was the ‘right’ price, but that [...]