June 11, 2018 / 3:45 PM / in 6 months

Saudi tells OPEC it pumped more oil in May, still below quota: source

General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Picture taken May 21, 2018. REUTERS/Ahmed Jadallah

LONDON (Reuters) - Top oil exporter Saudi Arabia has told OPEC that it raised oil output to a little more than 10 million barrels per day (bpd) in May, a source familiar with the matter said on Monday, but still within its agreed target.

Saudi Arabia has been over-delivering on its share of production cuts in an OPEC-led oil supply pact. The kingdom reported production of 9.868 million bpd in April, compared with its OPEC output target of 10.058 million bpd.

OPEC will report May production figures in a monthly report on Tuesday.

London energy desk; Editing by David Goodman

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