Saudi Arabia, along with OPEC neighbors Kuwait and the United Arab Emirates, exported a record high of crude oil this August. Despite pumping out 10.2 million barrels per day, the fastest rate in 32 years, Saudi Arabia was unable to offset OPEC’s 0.8 percent decrease in oil production, attributed largely to instability in Libya and tough sanctions on Iran. As a number of OPEC countries face stagnant or falling production and oil prices creep steadily upwards, the question of whether Saudi Arabia can offset further shortages is more pressing than ever.

Read more: http://tinyurl.com/o5f38dk