Saudi tells OPEC it pumped more oil in May, still below quota

LONDON: Top oil exporter Saudi Arabia has told OPEC that it raised oil output to a little more than 10 million barrels per day (bpd) in May, a source familiar with the matter said on Monday, but still within its agreed target.

Saudi Arabia has been over-delivering on its share of production cuts in an OPEC-led oil supply pact. The kingdom reported production of 9.868 million bpd in April, compared with its OPEC output target of 10.058 million bpd.

OPEC will report May production figures in a monthly report on Tuesday.