Riyadh – Mubasher: Khalid Al Falih, the Saudi minister of energy, industry, and mineral resources on Monday said that the Kingdom’s oil exports will be limited to 6.6 million barrels per day (bpd) in August, according to Reuters.

The exports will fall 1 million bpd below 2016 levels, the agency added, citing Al Falih as saying.

Data by the Saudi General Authority for Statistics (GASTAT) showed a 35% growth in Saudi Arabia’s oil exports in April 2017, compared to April 2016, making up 78.2% of the Kingdom’s whole exports.

The GASTAT said that the value of oil exports reached SAR 51.9 billion in April 2017, compared to SAR 38.5 billion in April in the previous year.

Earlier on Monday, the Saudi minister had stated that there will not be further discussions of deeper oil output cuts from members and non-members of the Organization of the Petroleum Exporting Countries (OPEC).