Saudi output hike fuels skeptics on eve of oil summit

It’s the multibillion-dollar question creating headaches among all oil-consuming nations: Do producing countries have any more crude to give?

In Jeddah, Saudi Arabia, representatives from countries and companies around the world will look for answers this weekend during an almost-unprecedented summit. The high-level meeting, called by Saudi Arabia – the world’s largest oil producer – comes as oil prices hit new records of near $140 (U.S.) a barrel this week.

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