Reuters cited Mr Ali Al Naimi oil minister of Saudi as saying that Saudi Arabia is likely to produce around 10 million barrels per day of oil in October in line with production last month.

Mr Ali Al Naimi said when asked by reporters how much crude the world's top oil exporter produced in September and how much it was expected to pump in October that they are all around 10 million barrels per day.

He said that if there's demand we will meet we have the ability to produce 12.5 million barrels per day but global demand doesn't need this amount. If we produce 10 million barrels per day around 2.5 million barrels per day as spare.

Source - Reuters

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