Saudi Arabia signals it's ready to rein in oil production after starting to scale back shipments...

|By:, SA News Editor

Saudi Arabia signals it's ready to rein in oil production after starting to scale back shipments and raising the selling price to Asia of its main crude grade. The Saudis have been pumping more than 9.5M bbl/day since June 2011, the longest stretch for at least 11 years, but having achieved their $100/bbl Brent target they'll need to defend it, analysts say.