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.
-
Dossier2 months agoDossier Construction Awards 2025 Celebrates Pioneers in Construction, Infrastructure and Real Estate
-
Arts and Culture2 months agoROHM To Premiere Arabic-Language Grand Opera – ‘Sindbad: The Omani Sailor,’ on Oct 3 and 5
-
News3 weeks agoKitchenomiKs Secures Investment of US$3.2M Led by Jasoor Ventures
-
Insurance1 month agoLiva Insurance Sweeps Three Major Wins at Alam Al-Iktisaad Awards 2025
-
Magazines3 weeks agoOER – September 2025 Issue
-
News4 weeks agoCent Capital, AI Finance App by ex-AWS Strategist ‘The Beast of Bay Area,’ Launches to End Financial Anxiety, Hits $1M AUM
-
News3 weeks agoIEA Expects Global Oil Market to Remain Oversupplied in 2026
-
News3 weeks agoOman Inaugurates ‘Hadatha’ – Its All-New Cybersecurity Center

You must be logged in to post a comment Login