Naimi says Saudi oil production near record high in April

Oil Minister Ali al-Naimi says Saudi Arabia is producing near record levels of crude in April, underscoring the kingdom's willingness to defend market share at a time when oil markets have staged a fragile recovery. There are worries that growing production from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries (OPEC) could snuff out a recent rebound in oil prices, particularly with economic growth in key oil consumer China the slowest in six years in the first quarter. OPEC had said its overall output surged to 30.79 million barrels per day in March, up 810,000 bpd from the previous month, with demand higher than expected due to lower prices. Naimi said that oil production in Saudi Arabia, the world's biggest crude exporter, was "around 10 million" bpd in April.

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