Saudi Arabia will report to OPEC that its crude oil production in August averaged 10.424 million bpd, up from the July levels, S&P Global Platts reported on Friday, quoting an OPEC source. Saudi Arabia supplied 10.467 million bpd to the market in August, the source said, which points to the Saudis drawing on stored oil to supply more crude to the market than it pumped. The Saudi production number for August would be 136,000 bpd higher than Saudi Arabia’s self-reported figure for July—10.288 million bpd, and according to Platts’ source, the August production reflected customer demand for Saudi crude. Despite its pledge to boost crude oil supply to offset supply disruptions, Saudi Arabia’s oil production in July slipped by 52,800 bpd from June to average 10.387 million bpd, according to the secondary sources in OPEC’s closely watched Monthly Oil Market Report . The Saudis themselves reported an even lower […]