Saudi Arabia confirms full compliance with voluntary OPEC+ target

The Saudi Ministry of Energy reaffirmed Friday that it remained “fully compliant” with its voluntary OPEC+ target.

“Marketed crude supply in June stood at 9.352 million barrels per day, in full alignment with the agreed quota,” a statement from the ministry said.

“Amid heightened geopolitical tensions, the Kingdom acted prudently, proactively, and preemptively, in line with its role as a reliable, dependable, and transparent energy supplier, to strengthen supply resilience and uphold global energy security,” the statement added.

The ministry stated that production briefly exceeded supply, but emphasized that these additional volumes were not marketed domestically or internationally.

Rather, the additional supply was redirected as a contingency measure to build domestic inventories, optimize east-west flows, and reposition barrels to offshore storage hubs under long-term delivery strategies, according to the statement.

“The Kingdom reports both production and supply data with full transparency to the OPEC Secretariat on a monthly basis.

“Furthermore, all eight OPEC-designated Secondary Sources were formally briefed at the beginning of this week regarding the June figures,” the ministry added.