Saudi Arabia Pumps a Record Amount of Oil in July To Meet Domestic Demand

Saudi Arabia's oil output hit an all time high in July in the midst of a worldwide oil glut. Saudi Arabia told OPEC It pumped 10.67 million barrels of oil as it tried to meet a surge in domestic demand. This comes as there's talk of a potential OPEC production freeze. OPEC will be watching to see if the Saudis pull back on production once temperatures cool.