Saudi Arabia: Further changes expected in energy industry

Petroleum and mineral resources minister Ali Bin Ibrahim Al-Naimi arrived in Vienna ahead of a 5 June meeting of the Organisation of the Petroleum Exporting Countries (Opec) in an upbeat mood, as he forecast increased demand for crude in H2 2015 and into 2016. Saudi levels of production remain high, reaching around 10.3m b/d in April, its highest level since 1980, and a 31 May Reuters survey showed Opec supply in May to be 31.22m b/d, the highest for more than two years.