The pressure on Saudi Arabia to pump more crude has lessened over the past few weeks. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The kingdom has boosted its production by almost 500,000 b/d from May levels and deemed that sufficient to meet the market’s needs for now, as the global supply outlook has improved. Libya’s eastern ports are back in business after a blockade was lifted last week, allowing its crude production to ramp up by several hundred thousand barrels per day. Russia has said its output has risen some 200,000 b/d this month, while Saudi Arabia’s Gulf allies Kuwait and the UAE have announced significant planned increases under OPEC’s deal with its allies to ease over-compliance with production cuts that had threatened to overtighten the market. US shale production remains robust, with the US Energy Information Administration forecasting a record 7.47 […]