Saudi Arabia boosts oil supply to 10.70 million bpd In June - Reuters

Eren Sengezer FXStreet

Reuters has recently announced the latest findings of its oil supply survey, highlighting that Saudi Arabia was expected to ramp up its oil output by 700,000 barrels per day to a near-record-high 10,70 million bpd in June

Crude oil prices seem to be showing a positive reaction to this development with the Barrel of West Texas Intermediate turning positive near $73.50.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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