Saudis Ask OPEC Watchers for Data Change to Meet Quota

(Bloomberg) -Suudi Arabia, OPEC’s companies for independent analysis of oil production levels, according to people who know the issue, the kingdom wants a lower figure for June production.

Riyadh argues that they are not suitable for measuring-month-up production of standard application-petrol, and that they should adopt a different meter called supply to the market, and a few people who want the process not to be identified specifically in companies.

Such demands are unusual and will allow Saudi Arabia to remain in the output quotas that Riyadh encourages other producer countries to remain loyal. One of the people said that the metropy that is desired to use would give a figure of about 400,000 barrels lower per day for a month.

The Saudi Arabian Ministry of Energy said that in June, the OPEC quota in June, and referring to a figure marketed by 9,352 million barrels a day. The kingdom said in the midst of increasing geopolitical tensions at that time that he was pumping more than it provided.

The International Energy Agency, in which OPEC fell as a secondary source in 2022, reported that the production of Saudis increased by 700,000 barrels per day to 9.8 million in June, because the country hurriedly hurried to export the barrels from the region during the Israeli-Iranian conflict by the Gulf Nations. This would exceed the existing quotas.

Exit fluctuations from the world’s largest raw exporters can afford the prices and Riyadh has become particularly critical in recent months while directing OPEC to revitalize the group members who exceed their goals.

The organization of oil -exporting countries evaluates the production of members using an average external company consisting of consultants and media organizations known as secondary resources and publishes them in a monthly report closely monitored by traders.

The difference between supply and production to the market is that the first captures the things that customers really take, whereas the normal measure is what is pumped from the ground.

Tanker monitoring data pointed to a sharp splash in Saudi raw exports last month and speculated that the kingdom and other Gulf nations tried to re -position materials outside the region during the conflict. The IEA report is the first evidence that shipments have turned into a major leap in flood production.

Last month, military confrontation between Israel and Iran increased the risk of a deterioration in the Hormuz Strait, a vital jikle of Middle East oil and an increase in transport flows.

Saudi Arabia pushed more barrels to domestic storage and storage places abroad. In a statement in X, the increase also enabled the country to “optimize” the raw flow between the eastern and western hemispheres.

The state oil company Saudi Aramco has strategic international delivery points in the Netherlands, Egypt, Japan and South Korea.

Posts to the pipeline in Egypt, where oil can be stored to be delivered to Europe and North America, tanker monitoring data compiled by Bloomberg Show last month increased by about 5 million barrels per day or 170,000 barrels per day.

The figure against supply-market excludes changes in stocks and said that the kingdom would be closer to the OPEC quota, which the kingdom decided for June 9.37 million barrels in June.

The disappointment with Opec Alliance members, which flames Riyadh’s quotas such as Kazakhstan, reached a boiling point this year.

Delegates, in the last few months of the kingdom to rapidly revitalize oil production to revitalize oil production, partially turning to shoulder the burden of balancing markets, the Kazakhs and others ignored their goals.

In September, OPEC plans to reversal the 2.2 million barrel deduction in September with an increase of approximately 548,000 barrels, despite the warnings that the authorities are more oriented by IEA and others.

The agency said in a monthly report on Friday, the US, Guyana and Canada -led materials will swell 1.4 million barrels per day this year and will double the speed of growth in world oil consumption. Brent raw futures transactions were treated close to $ 69.

With the help of James Herron and Julian Lee.

(Updates with Saudi comments from the fourth paragraph.)

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