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According to Dow Jones on July 11, Saudi Arabia told OPEC on Wednesday that the country has increased oil production in June, about to hit a new high since the country began limiting production in 2016, and that Saudi Arabia's production increase last month began earlier than OPEC's decision to increase production in late June
.
OPEC producers and a Russian-led alliance agreed at the end of June to increase oil production by 600,000 b/d from July 1, with most of the new production coming from Saudi Arabia
.
Saudi Arabia has been under pressure from the U.
S.
to increase production and fill the supply gap
ahead of sanctions on Iranian oil exports.
According to OPEC's monthly report, Saudi Arabia said it averaged 10.
489 million b/d, up 459,000 b/d from the previous month and close to the 10.
544 million b/d level
before the start of the curb.
Overall, OPEC's 15 members, including the newly joined Republic of Congo, increased production by an average of 173,000 b/d to 32.
33 million b/d
, according to secondary sources.
According to Dow Jones on July 11, Saudi Arabia told OPEC on Wednesday that the country has increased oil production in June, about to hit a new high since the country began limiting production in 2016, and that Saudi Arabia's production increase last month began earlier than OPEC's decision to increase production in late June
.
OPEC producers and a Russian-led alliance agreed at the end of June to increase oil production by 600,000 b/d from July 1, with most of the new production coming from Saudi Arabia
.
Saudi Arabia has been under pressure from the U.
S.
to increase production and fill the supply gap
ahead of sanctions on Iranian oil exports.
According to OPEC's monthly report, Saudi Arabia said it averaged 10.
489 million b/d, up 459,000 b/d from the previous month and close to the 10.
544 million b/d level
before the start of the curb.
Overall, OPEC's 15 members, including the newly joined Republic of Congo, increased production by an average of 173,000 b/d to 32.
33 million b/d
, according to secondary sources.
