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Saudi Oil Production Increased To 102.44 Million Barrels Per Day In August

- Sep 05, 2018 -

On August 31, Saudi Arabia will report to the Organization of Petroleum Exporting Countries that its August crude oil production averaged 104.24 million barrels per day, higher than the July level.

According to sources, Saudi Arabia provided a daily output of 104.67 million barrels to the market in August, indicating that Saudi Arabia uses stored oil to supply more crude oil to the market than it has drawn.

Saudi Arabia's August production will be 136,000 barrels per day higher than Saudi Arabia's self-reported figure in July - 10.28 million barrels per day. According to Platts, August production reflects customer demand for Saudi crude oil.