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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
This Is Where Saudi Arabia Gets Its Oil

Photographer: Simon Dawson/Bloomberg

Updated on

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.