Saudi Arabia cut oil output in July to 9.8M bpd from 10.1M bpd in June, sending 9.7M bpd to the...

|By:, SA News Editor

Saudi Arabia cut oil output in July to 9.8M bpd from 10.1M bpd in June, sending 9.7M bpd to the market and putting 100K bpd in storage, Reuters reports. Saudi had boosted oil production to the 30-year high of 10.1M bpd in April as it stepped up output to make up for the fall in Iranian supplies due to the international sanctions.