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Saudi oil output at record high in August

Reuters - UK Focus

KHOBAR, Saudi Arabia, Sept 6 (Reuters) - Saudi Arabia produced record high volumes of crude in August, stepping in for a second time over the past two years to cushion the oil markets from serious supply disruptions.

An industry source familiar with the matter told Reuters the kingdom produced 10.19 million barrels per day (bpd) last month, and supplied the market with 10.07 million bpd.

Saudi efforts have partially helped offset a plunge in Libyan output due to unrest, which led to a steep reduction in the overall output of the Organization of the Petroleum Exporting Countries (OPEC).

OPEC's output has averaged 30.32 million barrels per day in August, down from a revised 30.50 million bpd in July, a Reuters monthly survey showed last week. (Reporting by Reem Shamseddine, Editing by Jane Merriman)