Oil prices raise up after monthly Saudi output unexpectedly drops

SANAA, Aug. 6 (YPA) – Oil rose on Monday after Saudi crude production unexpectedly fell in July and U.S. drilling appeared to slow, although the price is still almost 10 percent below its 2018 high of more than $80 a barrel.

Saudi Arabia pumped around 10.29 million barrels per day (bpd) of crude in July, two OPEC sources said on Friday, down about 200,000 bpd from a month earlier.

That came despite a pledge by the Saudis in June to raise output from July.

Ahmed al-Mutawakel