Saudi Arabia Keeps Pumping at Three-Decade High as Shale Buckles
This article is for subscribers only.
Saudi Arabia, the world’s biggest oil exporter, told OPEC that it kept pumping the most crude in three decades last month amid growing signs that the 12-nation group’s quest to maintain market share is working.
The kingdom produced 10.33 million barrels a day in May, an increase of 25,000 barrels from April, according to data the country communicated to the Organization of Petroleum Exporting Countries. The group supplied almost 31 million barrels a day collectively, the most in almost three years.