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Friday, September 16, 2011     FOR YOUR EYES ONLY

Saudi oil output at 9.8 million barrels per day, highest since 1981

ABU DHABI — Saudi Arabia has reached its highest crude oil production rate in 30 years.

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The International Energy Agency said Saudi output has reached 9.8 million barrels per day, the highest since 1981. The Paris-based group said the rate was achieved in August amid rising global energy demand.

"Exports appear largely unchanged from July levels, with the increased volumes dedicated to meet higher demand for direct crude burn," IEA said on Sept. 13.

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The agency, in its monthly oil market report, also cited increasing production from other Gulf Cooperation Council states.

They included Kuwait and the United Arab Emirates, which contributed to a total OPEC supply of 30.26 million barrels a day in August, up from 30.09 million barrels in July.

Saudi Arabia is said to have employed 700,000 barrels per day for power generation.

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