Dubai: Saudi Arabia kept its crude oil production steady in September, an industry source told Reuters, maintaining high output as part of a strategy to defend market share.
Saudi Arabia pumped 10.225 million barrels per day (bpd) of crude oil last month, down about 60,000 bpd from August, the source said.
Crude supplied to the market in September was 10.260 million bpd, up about 70,000 from a month earlier, he added.
Supply to the market, both domestically and for export, may differ from production depending on the movement of oil in and out of storage.
Saudi-based industry sources have said the kingdom’s crude production was likely to stay around current levels in the fourth quarter as rising global demand would offset a decline in domestic crude burning for electricity.
The United Arab Emirates’ crude production in September was 3.001 million bpd, compared to 3.026 million bpd in August, while Kuwait’s output held steady at 2.90 million bpd from August’s 2.890 million bpd, separate industry sources said.
