Saudis to cap output until September

摘要

Saudi Arabia will cap its crude production at around 9.6mn b/d through to September, and has reached out to its Opec and non-Opec partners to seek ways to stem the steep decline in oil prices since the start of August. With macroeconomic indicators suggesting the potential for a slowdown in demand growth, Riyadh will maintain production this month and next at the same level as last month, around 9.6mn b/d, while its exports will remain below 7mn b/d, a Saudi source told Argus.