Saudi Oil Production Holds Steady in September at 8.97m b/d
- Exports rose slightly to 6.1 million barrels a day in Sept.
- Saudi Arabia’s production remains within OPEC+ quota
Photographer: Simon Dawson/Bloomberg
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Saudi Arabia kept its crude oil output broadly stable last month, pumping 8.974 million barrels a day in September compared with 8.988 million barrels a day in August, according to an industry official familiar with the kingdom’s production levels.
The kingdom has been restraining production since May as part of an historic OPEC+ agreement to remove nearly a 10th of the world’s oil supply to mitigate the impact of the coronavirus pandemic on the energy market. Under the OPEC+ deal, Riyadh has a production target of just under 9 million barrels a day.