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FINANCIAL NEWS
Saudi pumps 8.4m bpd in 2010
05 Jan 2011
(MENAFN) The Energy Information Administration (EIA), the US Energy Departments’ statistical arm, said in a report that during 2010, Saudi Arabia pumped 8.4 million barrels per day (bpd) of crude oil, 4.3 percent above its Organization of Petroleum Exporting Countries (OPEC) quota, in order to meet growing domestic demand, Bloomberg reported.
Official EIA figures also showed that the Kingdom produced approximately 1.8 million bpd of natural-gas liquids and other fuels not subject to output restrictions by OPEC, bringing its total output level to 10.2 million bpd.
During December, Saudi Arabia, which has an OPEC quota of 8.051 million bpd, pumped 8.25 million bpd of oil in December.
Saudi Arabia is OPEC’s largest producer and had the capacity to produce more than 12 million bpd of oil at the end of 2010, the EIA said.
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