Saudi Arabia’s state oil company is feeling the impact of lower prices, but does not plan to change its spending plans or production levels, its chief executive officer said on May 6.“We were expecting to produce around 10 million b/d at this time and now are producing about 8 million b/d. We’re not seeing any imminent increase in production because we’re not seeing any imminent increase in demand, but we continue to invest along the petroleum value chain because we expect high demand to return,” said Khalid A. al-Falih.“We’re somewhat concerned because other oil producing countries aren’t continuing to invest at the same time because prices...