Times of Oman | News :: Saudi Arabian crude output soars to 24-year high: Survey

Times of Oman | News :: Saudi Arabian crude output soars to 24-year high: Survey:

"

Organisation of Petroleum Exporting Countries (Opec) crude production climbed in August as Saudi Arabia pumped oil at the fastest pace in at least 24 years, a Bloomberg survey showed.

Output by the 12-member Opec increased 116,000 barrels a day, or 0.4 per cent, to an average 31.04 million from a revised 30.924 million in July, the survey of oil companies, producers and analysts showed on Thursday. The gain was the sixth in seven months.

Saudi output climbed 150,000 barrels to 9.95 million barrels a day in August, the sixth straight gain and the most for Opec's biggest supplier in monthly data going back to 1989. It was the largest gain of any Opec member this month."

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