Al KHOBAR: Saudi Arabia produced 9.745 million barrels per day of crude oil in November, little changed from the previous month, when it pumped 9.75 million bpd, an industry source familiar with the matter said yesterday.
The kingdom supplied the market with 9.448 million bpd in November, the industry source said, down from 9.7 million bpd in October. “Production is the same ... supply was lower because of lower direct crude oil burning and also lower intake from domestic refineries,” said the source.
The world’s top oil exporter cut production in October after pumping at record rates of around 10 million bpd for three months running to help offset a plunge in output from fellow Opec member Libya. The Opec agreed last week to renew for six months its 30 million barrel-a-day output cap for the first half of 2014.
reuters
