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Saudi August Oil Output Was 9.8 Million Barrels, GOR Says

Saudi Arabia’s daily crude oil production averaged 9.753 million barrels last month and its supply to the market was 9.835 million barrels, according to the Gulf Oil Review.

“Sources at the Saudi oil ministry say the kingdom will continue to produce at these levels if needed and remains committed to meeting higher customer demand,” the report said.

Maintaining price stability at about $100 a barrel is a key strategic objective for Saudi Arabia, the newsletter said, citing unidentified sources in the country’s oil ministry.

The report is published by Petroleum Policy Intelligence, a researcher in Winchester, U.K., founded by Bill Farren-Price.

To contact the reporter on this story: Stephen Voss in London at sev@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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