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Saudi Arabia pumps 10.24 million bpd in Jan, below its OPEC's target: sources

Reuters  |  DUBAI/LONDON 

DUBAI/(Reuters) - Saudi Arabia, the world's top oil exporter, told it pumped 10.24 million barrels per day (bpd) in January, two sources said, as the kingdom follows through on its pledge to reduce output to help balance the and support prices.

The Organisation of the Petroleum Exporting Countries, and other non-producers - an alliance known as OPEC+ - agreed in December to reduce supply by 1.2 million bpd from Jan. 1.

Under the agreement, should cut its production to 10.311 million bpd, but its minister has said the country will over-comply with the supply-cutting pact to show its full commitment.

The kingdom pumped 10.643 million bpd in December.

(Reporting by and Alex Lawler; editing by Jason Neely)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 07 2019. 16:42 IST