Gulf oil producers to maintain output within OPEC target in July: sources - Reuters

Gulf oil producers to maintain output within OPEC target in July: sources - Reuters:

Gulf OPEC producers will keep their July oil production within their OPEC target despite the current global supply cut pact expiring at end of June, OPEC sources said on Thursday, a signal that the Gulf exporters are reluctant to boost supply.

Saudi Arabia, the top global oil exporter’s crude output in June will be around the same level of its May production, and its July output will remain within its obligation under the OPEC-led supply cut deal, the sources said.

Saudi oil output in May was 9.67 million bpd, according to OPEC figures. Riyadh has been pumping below its 10.3 million bpd target under the OPEC pact for the past months.