• CBNC

Saudi's Cut Oil Production


Saudi Arabia cuts oil production in July despite OPEC agreement to hike output

  • OPEC's oil output ticked up by 41,000 barrels per day to 32.3 million bpd in July.

  • Top exporter Saudi Arabia's production fell just one month after it reached an agreement with OPEC and other producers to hike output.

  • The monthly production figure the Saudis reported was about 150,000 bpd lower than an estimate by independent sources.

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