Saudi bumps up oil supplies
Top oil exporter Saudi Arabia showed no sign of cutting back supply in June following last month’s Opec agreement to rein in production, instead raising output by 300,000 barrels per day (bpd) from May to 10.1 million bpd (mbpd), an industry source said. After reducing output in May to 9.8 mbpd from April’s 30-year high of 10.1 mbpd, the world’s largest oil exporter raised production again in June, the source said.
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