RE:Turkey pipeline open nowfrom CNBC site, OPEC production increases, Saudi will probably increase for fear of losing market share to others while prices still high
A Reuters survey on Monday showed OPEC oil output rose for a second straight month in September, led by increases in Nigeria and Iran despite cuts by Saudi Arabia.
Pumping more crude supply into the system, Turkey will restart operations this week on a pipeline from Iraq that has been suspended for about six months, Turkey’s energy minister said on Monday
Additionally, Saudi Arabia could start to ease its additional voluntary supply cut of 1 million barrels per day (bpd), said ING analysts in a note on Monday.