By Upstream staff
Top oil exporter Saudi Arabia is set to pump at least 8.7 million barrels per day this month, and is likely to raise that to about 9 million bpd in November when Opec’s supply increase takes effect, an Opec source said today.
Last month Opec agreed to raise supply by 500,000 bpd from 1 November in an attempt to soothe consumer concerns over tight supplies and high prices.
Under the agreement, Riyadh has a supply target of 8.943 million bpd, a Reuters report said.
The Opec source was talking to the news agency on condition of anonymity.
17 October 2007 11:18 GMT | last updated: 17 October 2007 11:20 GMT
http://www.upstreamonline.com/live/article142464.ece
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
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