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Saudi oil exports drop to 7.276m bpd in July

21 Sep 2015

(MENAFN) In July, Saudi Arabia’s crude oil exports declined to7.276 million barrels per day from 7.365 million bpd in the prior month, based on recent reports.

Production cuts have been affecting all of OPEC members, but as the group stressed, it will take time for the oil market to balance itself.

On a larger scale, US oil drillers have cut rigs over the past two weeks, a sign that renewed price drops since July may be slowing some from returning to the well pad in a bigger way.

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