Economics

Saudi Arabia Reports Record Oil Output on Summer Demand

  • Crude production was 10.67 million barrels a day in July
  • Previous record was 10.56 million barrels a day in June 2015

Saudi Arabian Oil Output Hits Record High

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Saudi Arabia told OPEC that it pumped a record 10.67 million barrels of oil a day in July to meet a summer surge in domestic demand, an increase that will do nothing to endear the group’s leading exporter to other members seeking output limits to shore up prices.

The figures were submitted to the Organization of Petroleum Exporting Countries, according to two people with knowledge of the data, who asked not to be identified because the information hadn’t yet been made public. The output beat the previous all-time production high of 10.56 million barrels a day in June 2015, according to OPEC submissions. The group confirmed the figure later Wednesday in its monthly report.