Saudi’s Oil Output Stable in September compared to August

Saudi’s Oil Output Stable in September compared to August

The crude oil production pioneer, Saudi Arabia, kept its September output stable compared to August’s output, according to an industry official. The nation produced 8.974 million barrels a day, which is almost in line with August’s 8.988M BPD.

Riyadh, Saudi Arabia’s capital, has set an output target below 9M BPD per month. The oil leader is cutting production as part of an agreement between OPEC+ countries to minimise the coronavirus impact on crude production industry, which is going as scheduled since May. The deal aims to cut 1/10th of oil output.

Meanwhile, the OPEC+ nations are about to meet on November 30 – December 1 to discuss the further production plan. Saudi Arabia’s oil exports rose slightly from 6 million barrels per day in August to 6.1 million BPD in September.

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