Saudi Arabia Says Oil Production Near an All-Time High, Prices Fall
Saudi Arabia says its oil production is near an all time high of around 10 million barrels of crude oil per day
Oil prices have been bouncing around all morning. Saudi Arabia says its oil production is near an all time high of around 10 million barrels of crude oil per day. Also, factory activity in China is slowing, which is also impacting oil prices. Whiting Petroleum says it will offer 35 million shares as well as 1.75 billion in convertible senior notes. Earlier this month, Whiting was reportedly seeking a buyer but the stock and note sale cast doubt on whether the oil and gas provider can find a buyer for the company. FDA has approved Abiomed's blood pump device, which will be used during heart procedures.
