Crude oil production from the Organisation of Petroleum Exporting Countries (OPEC) increased last month as Saudi Arabia pumped near-record volumes to make good on a pledge to consumers that demand would be met.

The kingdom’s oil production grew by 230,000 barrels a day in July to 10.65 million barrels per day. This is just shy of an all-time peak reached in 2016, according to Bloomberg’s survey of analysts, oil companies and ship-tracking data.


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