Saudi Arabia hits record oil production. As reported by the Agency Bloomberg informed source, at present, the daily Saudi production is 11.2 million barrels.
Based on earlier data, Saudi Arabia produced an average of 10.8-10.9 million barrels of oil per day. The Kingdom increases production in response to increased demand from customers, which were prepared for supply disruptions from Iran because of us sanctions.
However, according to sources, the increase in supply of oil was carried out at the expense of accumulated reserves. Bloomberg notes that information about whether the Kingdom continue to increase production, yet.
Meanwhile, former Saudi Minister of energy Khaled al-Faleh promised that the Kingdom will not «pour» the world market for its oil: «Saudi Arabia will meet the demand for oil will not oversaturate the market with supply».
Earlier, Bloomberg also reported, citing unnamed managers from Saudi Aramco that the oil production in Saudi Arabia in a separate days of November grew to a record level of 11 million barrels.
Thus, according to secondary sources, OPEC in October, Saudi Arabia has increased production to 127 thousand barrels per day — to 10.63 million barrels per day. And according to the Kingdom, his production increased a little more by 141 thousand barrels per day, to 10,642 million barrels.
It is curious that in early November, al-Faleh said: “At present, the production is higher than in October, but in December again is expected to decrease”. And at the meeting of the monitoring Committee in Abu Dhabi, the Minister said that the global oil market is sufficiently provided with the proposal and the deficit is not expected.
«As I have said many times, the oil market is supply secured, we have a lot of free available production capacities — said al-Faleh. – There is no reason to fear.»