# Saudi crude oil output in August rises to 10.424 million b/d: OPEC source

> Saudi Arabia will report August crude production of 10.424 million b/d, up 136,000 b/d from July's self-reported 10.288 million b/d, according to an OPEC source. The kingdom supplied 10.467 million b/d to market in August. Saudi Arabia is OPEC's largest producer and the world's largest crude exporter.

- Date: 2018-08-31 · published 2018-08-31T12:00:00.000Z
- Category: report · region Saudi Arabia · magnitude low
- Page: https://feedsoft.ai/events/63444-saudi-crude-oil-output-in-august-rises-to-10-424-million-b-d-opec-source
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher Saudi supply, the largest in the group, adds to global crude availability and is bearish for oil prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-08-31 | [OPEC oil output rises in August as Iran hits 2018 high, Reuters survey finds \| Reuters](https://feedsoft.ai/events/34490-opec-oil-output-rises-in-august-as-iran-hits-2018-high-reuters-survey-finds.md) | +5.7% | +12.3% |
| BRENT | 2018-07-05 | [Saudi Arabia raised oil output by around 500,000 bpd in June: sources \| Reuters](https://feedsoft.ai/events/63955-saudi-arabia-raised-oil-output-by-around-500-000-bpd-in-june-sources-reuters.md) | -3.9% | -5.3% |
| BRENT | 2018-08-13 | [OPEC’s Output Rose in July Despite Decline in Saudi Oil Production - WSJ](https://feedsoft.ai/events/63443-opec-s-output-rose-in-july-despite-decline-in-saudi-oil-production-wsj.md) | -1.3% | +6.0% |
| BRENT | 2017-07-12 | [OPEC's oil output jumps again as the group struggles to end crude glut](https://feedsoft.ai/events/69868-opec-s-oil-output-jumps-again-as-the-group-struggles-to-end-crude-glut.md) | +2.7% | +10.7% |
| BRENT | 2020-10-30 | [OPEC oil output rises by 210,000 bpd in October-survey \| Financial Post](https://feedsoft.ai/events/50549-opec-oil-output-rises-by-210-000-bpd-in-october-survey-financial-post.md) | +8.3% | +27.9% |
| WTI | 2023-08-31 | [OPEC oil output rises in August as Iran hits 2018 high, Reuters survey finds \| Reuters](https://feedsoft.ai/events/34490-opec-oil-output-rises-in-august-as-iran-hits-2018-high-reuters-survey-finds.md) | +6.4% | +12.3% |
| WTI | 2018-07-05 | [Saudi Arabia raised oil output by around 500,000 bpd in June: sources \| Reuters](https://feedsoft.ai/events/63955-saudi-arabia-raised-oil-output-by-around-500-000-bpd-in-june-sources-reuters.md) | -5.0% | -7.8% |
| WTI | 2018-08-13 | [OPEC’s Output Rose in July Despite Decline in Saudi Oil Production - WSJ](https://feedsoft.ai/events/63443-opec-s-output-rose-in-july-despite-decline-in-saudi-oil-production-wsj.md) | -2.5% | -0.1% |

## Sources

- spglobal.com: https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/083118-saudi-crude-oil-output-in-august-rises-to-10424-million-bd-opec-source

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.