Saudi Arabia's Oil Minister Ali Naimi reiterated Thursday the kingdom's oil production will reach 9.7 million barrels a day in July.
Saudi Arabia will be "producing 9.7 million barrels a day this month," Naimi told reporters on the sidelines of the World Petroleum Congress in Madrid.
Saudi Arabia, the world's largest oil producer and de facto head of the Organization of Petroleum Exporting Countries, announced two separate output hikes jointly totaling 500,000 barrels a day in May and June as it faced pressure to try and ease record high oil prices.