A drop in Saudi Arabian oil supply last month doesn’t necessarily signal that the biggest producer in OPEC is cutting exports to bolster prices. Brent crude jumped after a person familiar with the country’s oil policies said the amount it supplied to markets fell in September by 328,000 barrels a day. The drop came after domestic demand increased to the most in at least 12 years. The market’s reaction underscores the focus on the Organization of Petroleum Exporting Countries before the group’s meeting next month after a global glut of oil drove crude futures down into a bear market . OPEC increased output to the highest in almost three years and the Saudis pumped 100,000 barrels a day more than in August. “This is not yet a signal that Saudi Arabia has taken a step forward in markedly reducing oil supply with an objective to shore up prices,” Harry […]