Exclusive: Saudi Arabia Ready to Raise Oil Output Further to Meet Demand

A senior state oil company official said on Thursday that Saudi Arabia is ready to increase its oil output in the coming months to a new record to meet a rise in global demand, despite increased domestic use. Saudi Aramco's executive director for marketing, told Reuters the world's top oil exporter was already talking to prospective Indian buyers for additional oil. Saudi Arabia increased production in May to around 10.3 million barrels per day - its highest rate on record - as a result of increased global demand.