The Saudi production will be decreased by 100,000 barrels per day (bpd) in August, the county’s OPEC governor Adeed Al Aama stated, the Dow Jones reported, according to CNBC.
Saudi Arabia increased its oil output to 10.7 million bpd in June, 0.7 million bpd up from May’s production.
In May, the President of the United States Donald Trump announced the US withdrawal from the Iran nuclear deal.
The US urged all importers to cut oil purchases from Iran to “zero” by 4 November, or they might face sanctions.
Members of the Organization of Petroleum Exporting Countries (OPEC) stated in June that they agreed on increasing their oil production.