Top oil exporter Saudi Arabia boosted its output to a record high in July, it told OPEC, in a sign that key members remain focused on market share rather than tackling a supply glut by curbing production.
The kingdom pumped 10.67 million barrels per day in July, according to figures it provided to the Organization of the Petroleum Exporting Countries which published them in a monthly report on Wednesday.
Saudi-based industry sources had said in April that output would rise in coming weeks to meet summer power demand.
The July figure is up from 10.55 million bpd in June and above the previous record of 10.56 million bpd achieved in June 2015.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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