Saudi oil exports in Aug to stay at July level -sources – ZAWYA

Saudi oil exports in Aug to stay at July level -sources – ZAWYA

Saudi oil exports in Aug to stay at July level -sources | ZAWYA MENA Edition HomeMarketsCommoditiesArticleSaudi oil exports in Aug to stay at July level -sources Saudi Arabia often burns more oil - estimated at about 550,000 barrels per day (bpd) - during the hot summer months for power generation    A view shows Saudi Aramco's Manifa oilfield, Saudi Arabia January 22, 2015. Picture taken January 22, 2015. DUBAI- Saudi Arabia's oil exports in August will remain the same as in July as the extra barrels the kingdom is set to pump next month under an OPEC+ deal will be consumed domestically to meet rising power generation demand, industry sources told Reuters.Saudi Arabia often burns more oil - estimated at about 550,000 barrels per day (bpd) - during the hot summer months for power generation.This summer the demand for oil burning is set to rise more than last year due to COVID-19 movement restrictions which have forced millions of people to stay home.The Organization of the Petroleum Exporting Countries and others led by Russia, known as OPEC+, have been cutting oil output since May by a record 9.7 million bpd. Under their agreement, after July the cuts are due to