Saudi oil production in August rose to 10.424m bpd – OPEC source

Crude oil production in Saudi Arabia rose to 10.424 million barrels per day (bpd) in August, compared with 10.288 million bpd in July, according to an OPEC source on Friday.

The raw supply in August amounted to 10,467 million barrels per day, the OPEC source was known according to the production plans of the child gum, compared with 10,380 million barrels in July.

Delivery to the market – domestically and for export – may differ from production depending on the movement of vessels in and out of storage.

"This reflects the needs of the customer and is in line with the OPEC + agreement," said the OPEC source, referring to the deal between the Organization of Oil-exporting Countries, Russia and other producers to control production. to hold.

The source said the decline in production in July was due to lower exports after Riyadh's oil shipments stopped via Bab al Mandeb, after an attack by the Houthi Yemen movement on Saudi oil tankers in the waterway between the Indian Ocean and the Red Sea.

OPEC and its allies promised on 22 and 23 June to return to 100 percent compliance with their agreement to reduce their combined output by 1.8 million bpd. The pact was first implemented in January 2017.

Source link

Leave a Reply