Saudi Arabia keeps its oil output steady in June: OPEC source

DUBAI (Reuters) – Saudi Arabia has pumped 9.782 million barrels of oil per day (bpd) in June, an OPEC source said on Friday, up from 9.67 million bpd in May.

The world’s top oil exporter kept its crude production below its output target of 10.3 million bpd under an OPEC-led global oil reduction pact, to reduce inventories and support prices.

OPEC and its allies led by Russia agreed on Tuesday to extend oil output cuts until March 2020, as the global economy weakened and U.S. production soared.