Print Edition - 2018-08-05  |  Money Digest

Saudi Arabia pumped less crude oil in July

DUBAI

Aug 5, 2018-

Top oil exporter Saudi Arabia pumped around 10.290 million barrels per day of crude in July, two Opec sources said on Friday, down about 200,000 bpd from a month earlier. The amount of oil supplied to the market in July was slightly higher at 10.380 million bpd, the sources said. Supply to the market — domestically and for export — may differ from production depending on the movement of barrels in and out of storage. Saudi Arabia told the Organisation of the Petroleum Exporting Countries that the kingdom pumped 10.488 million bpd of crude oil in June, an increase of 458,000 bpd from the production figure it submitted for May. However, crude supply to the market in June was higher than wellhead production at 10.579 million bpd, a figure that includes domestic consumption and all exports. (REUTERS)

Published: 05-08-2018 08:46

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