The level of oil production in Saudi Arabia in July rose to a record high of 10.67 million barrels. a day, the Financial Times reports, citing data from the Organization of countries — exporters of oil (OPEC). This is higher than the previous record achieved in July last year – 10.56 million barrels. a day.
As the newspaper notes, is traditionally Saudi Arabia produces more oil during the summer months due to increased domestic demand, due to the active use of air conditioning. In July, Saudi Arabia air temperature rose above 50 degrees Celsius.
Oil production in Saudi Arabia is under close scrutiny from other OPEC members, after the Kingdom promised in July, colleagues in the cartel, it will not flood the market with oil. The competing OPEC countries will now see that oil production in this country in the period from September to may fell to 10.2 million barrels a day, as happened last year.
In its report, published on Wednesday, OPEC predicted the growth in world oil demand to record levels. According to forecasts, world oil demand in 2017 will reach a record level in 95,41 million barrels. a day.