Saudi's 2% Oil Bump Not Likely To Change Anything

The largest oil producing nation, Saudi Arabia, has declared that during the month of July it intends to increase its production by approximately 2% a day. That's roughly 200,000 barrels, in response to the soaring prices. But will it really make any significant difference in the costs of fuel?

Not likely.

We've already witnessed a couple moves to curb soaring prices that went virtually nowh.....

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