IEA: Divergence in Oil Production Among Major Gulf Producers in July, with Saudi Arabia Increasing Supply by 900,000 Barrels per Day

(1) The International Energy Agency's monthly report shows that oil production in Saudi Arabia, Iraq, Kuwait, and Iran increased month-on-month in July, while the UAE's production declined after attacks on shipping in the region. (2) Saudi Arabia's crude oil supply increased by 900,000 barrels per day to 8.2 million barrels per day; UAE's crude oil production fell to 3.9 million barrels per day; Iraq's production increased by 470,000 barrels per day to 2.9 million barrels per day; Iran's production increased by 330,000 barrels per day to 2.6 million barrels per day; Kuwait's production increased by 290,000 barrels per day to 1.8 million barrels per day.