October 11, 2016 / 5:40 PM / 10 months ago

UPDATE 1-Saudi Arabia's crude output steady in Sept amid oil deal talk

2 Min Read

(Adds Kuwait, UAE production, background)

By Rania El Gamal

ISTANBUL, Oct 11 (Reuters) - Saudi Arabia's crude oil production was steady in September, remaining at high levels, a signal that OPEC's top producer continues to feed rising demand both domestically and abroad.

The world's largest oil exporter pumped 10.65 million barrels per day in September, up from 10.63 million bpd in August, according to official figures submitted to OPEC.

Gulf OPEC member Kuwait reported that its oil production in September was at 2.97 million bpd compared with 2.98 in August, while the United Arab Emirates pumped 3.18 million bpd in September, from 3.15 in August, sources familiar with the matter said.

The Organization of the Petroleum Exporting Countries on Sept. 28 agreed to reduce output to a range of 32.50 million barrels per day to 33.0 million bpd, its first output cut since the 2008 financial crisis.

The exporting group is in talks with major non-OPEC producers in a bid to gain their support for a global deal to limit supplies and help to balance the market.

OPEC and non-OPEC officials are gathering in Istanbul on Wednesday as part of a series of meetings to nail down details of the deal in Algiers. (Reporting by Rania El Gamal; editing by David Clarke and Jane Merriman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below