Saudi cuts oil output to 9.8 mln bpd in July-source

DUBAI Thu Aug 9, 2012 3:41am EDT

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DUBAI Aug 9 (Reuters) - Top oil exporter Saudi Arabia pumped 9.8 million barrels per day (bpd) of crude oil in July, cutting output by 300,000 bpd from June, an industry source said on Thursday.

The OPEC heavyweight supplied 9.7 million bpd to the market in July, while 100,000 bpd of the output was sent to storage, the source added.

Saudi oil production climbed to 10.1 million bpd in April, its highest for more than 30 years at a time when supplies from Iran have been falling due to a European Union oil embargo that took effect on July 1.

After a brief fall in May, Saudi production bounced back to 10.1 million in June.

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