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Saudi Arabia pumps record 11.3mbpd in November

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Saudi Arabia pumps record 11.3mbpd in November

Oil production levels are up around 0.5 million bpd - equal to 0.5 per cent of global demand - from October and more than 1 million bpd higher than in early 2018.

Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, as US President Donald Trump piled pressure on the kingdom to refrain from production cuts at an Opec meeting next week.
The industry source, who is familiar with the matter, said Saudi crude oil production hit 11.1-11.3 million barrels per day (bpd) in November, although it will not be clear what the exact average November output is until the month is over.
Those levels are up around 0.5 million bpd - equal to 0.5 per cent of global demand - from October and more than 1 million bpd higher than in early 2018, when Riyadh was curtailing production together with other Opec members.

 

Published: Mon 26 Nov 2018, 8:00 PM

Updated: Mon 26 Nov 2018, 10:29 PM

  • By
  • Reuters


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