Saudi Arabia’s oil production dropped by 660,000 barrels per day (b/d) in September, compared with August, reaching around 9.13 million b/d after an attack on its energy installation, Reuters reported.
The oil production in Saudi Arabia was falling month-on-month (MoM) in September by 1.28 million b/d to 8.56 million b/d, according to the report of the Organization of Petroleum Exporting Countries (OPEC).
The attacks on Saudi Aramco’s installations in Abqaiq and Khurais plants led to shutting down around 5.7 million b/d and increasing prices by around 20%. However, these attacks did not affect the company’s initial public offering (IPO).
It is worth mentioning that the OPEC’s overall production in September was around 1.32 million b/d. Moreover, OPEC lowered its expectations for non-OPEC supply growth in 2020 by 50,000 b/d to 2.2 million b/d.