Saudi Arabia will continue to pump oil at increased levels through May, Saudi Aramco Chief Executive Amin Nasser said on Monday during an earnings call, according to Reuters. Nasser added that the state-run oil giant, who has promised to unleash a total of 12.3 million barrels per day on the oil market, was “very comfortable” with $30 oil. Arab Light was trading at $30.24 per barrel on Monday, down 5.1% on the day. Both Saudi Arabia and Russia are adamant that they both can weather the current low-price environment. And for Saudi Arabia, who is planning on upping its oil exports in April and May, the lower oil prices will be partially offset by the increased volume. Saudi Arabia has for more than a year shouldered the brunt of the production cut agreement with OPEC and its allies. But Saudi Arabia would need to ship a lot of extra […]