Oil prices slump as Saudi Arabia unveils output hike (AFP)

A motorist holding a fuel pump at a petrol station. Oil prices slumped on Thursday after Saudi Arabia said it planned to boost daily output by 200,000 barrels to help cool record-breaking energy costs which are hurting consumers globally.(AFP/File/Behrouz Mehri) AFP - Oil prices slumped Thursday after Saudi Arabia said it planned to boost daily output by 200,000 barrels to help cool record-breaking energy costs which are hurting consumers globally.