Dow Jones report
Dow Jones reports that Saudi Arabia is getting more demand than anticipated for its oil and is running low in its October allocation because it underestimated how much Iran sanctions would impact demand.
They're also near restarting a 300k bpd field.
"Saudi Arabia is set to use an oil-producers' summit in Algiers on Sunday to reassure oil markets that it can fill any shortages that arise as U.S. sanctions restricting Iranian oil sales begin in November," they report.
On net, this is bullish report even though there is clearly an effort by the Saudis to help out the White House and keep prices down, at least through the midterms.
