Saudi to pump 10m bpd again in Oct

Saudi Arabia is likely to produce around 10 million barrels per day (bpd) of oil in October, in line with production last month, Saudi Oil Minister Ali Al-Naimi said on Tuesday.

“They are all around 10 million bpd,” Naimi said when asked by reporters how much crude the world’s top oil exporter produced in September and how much it was expected to pump in October.

“If there’s demand, we will meet we have the ability to produce 12.5 million bpd but global demand doesn’t need this amount… If we produce 10 mln bpd around 2.5 million bpd as spare.”

-Reuters, Oct 10 2012