Saudi Arabian Energy Minister Khalid Al-Falih does not believe it is necessary for any "significant intervention" in oil markets at this time, he told Reuters following a speech on Thursday. The kingdom produced 10.67 million barrels per day of crude oil, the most in its history, in July, and Al-Falih said on Thursday that production has remained around that level. Talks are scheduled in September to discuss a global output freeze pact. Al-Falih said there have not been any specific discussions on a production freeze by the Organization of Petroleum Exporting Countries as of yet, even though world supply remains ... (full story)