Saudi pumping extra oil to meet demand: Saudi source

JEDDAH, Saudi Arabia (Reuters) – Top world oil exporter Saudi Arabia has decided to increase oil supply to meet demand from customers, a Saudi oil source said on Saturday.

Saudi Arabia will raise output to 9.7 million barrels per day in July, the fastest daily rate in decades.


“We increased because they (our customers) asked for it,” the source said.

He was speaking as delegates from oil consuming and producing countries arrived in Jeddah for a meeting on Sunday to try tackle record oil prices.

There was no consensus yet between consumers and producers on the causes of high oil prices, he said, but he believed there was a collective will to try to stem the record rally.

Reuters