Saudi Arabia’s oil production saw a rebound in July, though it remained limited by the ongoing OPEC+ production agreement.
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Recent related updates:
Commerzbank recently adjusted its Brent crude forecast downward.
The International Energy Agency (IEA) has revised its global oil demand growth estimates for 2024.
In June, Saudi Arabia’s oil production declined while it led an extension of OPEC+ voluntary cuts.
Saudi Arabia’s crude exports exceeded 7 million bpd in May, according to its JODI submission.