Oil & Gas
Saudi Daily Oil Output Said to Surpass Record 11 Million Barrels
Saudi Arabia is pumping as much as 11.2 million barrels of crude a day, the most since the kingdom extracted its first oil eight decades ago, according to a person familiar with the matter.
The kingdom’s production was running at about 10.8 million to 10.9 million barrels earlier this month as it responded to stronger-than-usual demand from clients preparing for a disruption in Iranian supplies. Saudi Arabia was also using crude from domestic and overseas stockpiles to supplement supply, industry executives said at the time.
READ MORE:
- Surging Saudi Exporter Seeking to Restore Deal With Aramco
- SoftBank Said to Plan $1.2 Billion Solar Plant in Saudi Arabia
It’s unclear if Saudi Arabia plans to keep increasing production, or if it is still supplementing supply from inventories. A Saudi Arabian oil official declined to comment.
OPEC and its allies meet Dec. 6 in Vienna to discuss the group’s 2019 production strategy. Saudi Arabia has already said it supports a drop in output and has pledged to reduce shipments by 500,000 barrels a day in December, compared with November.
-
Banking & Finance2 months agoOman Oil Marketing Company Concludes Its Annual Health, Safety, Environment, and Quality Week, Reaffirming People and Safety as a Top Priority
-
News2 months agoJamal Ahmed Al Harthy Honoured as ‘Pioneer in Youth Empowerment through Education and Sport’ at CSR Summit & Awards 2025
-
Economy2 months agoPrime Minister of India Narendra Modi to Visit the Sultanate of Oman on 17-18 December
-
Economy2 months agoOman’s Net Wealth Reaches $300 Billion in 2024, Poised for Steady Growth
-
OER Magazines2 months agoOER, December 2025
-
News1 month agoAI Security Conference 2025 Hosted by Securado Highlights the Changing Cybersecurity Landscape
-
Insurance1 month agoSupporting Community Wellness: Liva Insurance Sponsors Muscat Marathon 2026 with Free Health Checkups
-
Interviews4 weeks agoEXCLUSIVE INTERVIEW: TLS Rebranding Marks Strategic Leap Toward Innovation, Sustainability & Growth

You must be logged in to post a comment Login