Middle East & Africa

Markets - Energy - Middle East & Africa

Saudi Arabia crude exports rise to 7.622mn bpd in July ABU DHABI: Saudi Arabia's oil exports rose in July as the kingdom pumped record high levels of crude, keeping the global market well supplied. The world's largest oil exporter has been maintaining high output levels since mid-2014 despite a global supply glut, in line with a strategy of defending market share against rival producers. Saudi Arabia's crude oil exports in July rose to 7.622 million barrels per day from 7.456 million bpd in June, official data showed on Monday. The kingdom produced a record high 10.673 million bpd in July, up from 10.550 million bpd in June with the increase due to summer demand and requests from customers. However, its output slipped in August to 10.63 million bpd, industry sources have said. Export data for August is not yet available. Several members of the Organization of the Petroleum Exporting Countries have called for an output freeze to rein in an ...
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