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Saudi August Production at 11 mn b/d in August

OIL

Saudi Arabia told the Opec Secretariat its production exceeded 11mn b/d in August.

  • It is only the third time it has reached this pace of production.
  • Saudi Arabia reported output of 11.05mn b/d, up by 236,000 b/d from July.
  • Opec's independent secondary sources put Saudi August at 10.90mn b/d, up by 160,000 b/d on the month.
  • It is unclear if Saudi can sustainably increase output from this level. Saudi and the UAE holds the majority of OPEC’s spare capacity.
Energy BulletsCommodities
Energy BulletsCommodities

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