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  • 10-07-14

    Saudi oil output up in June

    (MENAFN) Saudi Arabia has boosted its production of crude oil in June up to 9.780 million barrels per day compared to 9.705 million barrels per day in May, according to Arab News.

    Supply to the market may differ from production depending on the movement of barrels in and out of storage.

    Demand for power generation oil in Saudi Arabia usually grows in June than in May to cover the surge in electricity demand in the hot summer months.

    OPEC's oil output has dropped in June from May's three-month high as fighting in Iraq closed its largest oil refinery and technical problems slowed its Southern exports.

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