JEDDAH/NEW YORK – Saudi Arabia pumped crude oil in June at the highest level in more than three decades as the country exported the most in a month since November 2005, official data showed. The world's biggest oil exporter shipped 7.84 million barrels a day in June, an increase of 2.3 percent from a month earlier, while output rose 3 percent to 10.1 million barrels a day, according to statistics the government submitted to the Joint Organization Data Initiative (JODI). The data for output and exports include condensates and exclude natural-gas liquids. JODI is supervised by the Riyadh-based International Energy Forum (IEF) and compiles data provided by member governments. The IEF, a group of nations accounting for more than 90 percent of global oil and natural-gas supply and demand, was established as a forum for producing and consuming countries to discuss energy security. The US, China and the European Union are among the IEF's members, according to its website. Separately, delegates from the oil producers' group said that OPEC has delayed a meeting of officials to help select its new secretary general putting off talks that could reignite rivalry for influence as Saudi Arabia, Iran and Iraq seek the top post. Officials said that a panel of officials was initially planned to convene at OPEC's Vienna headquarters during August but the meeting may now take place in October. OPEC has often struggled to agree on a secretary general and the task of appointing a successor to the outgoing Abdullah Al Badri comes as Western sanctions on Iran have heightened political tensions within the 12 member group. Four of OPEC's 12 members have put forward potential successors to Al Badri, a Libyan whose term finishes by 2012 end. Saudi Arabia nominated its Opec Governor Majid Al Moneef while Iraq proposed Thamir Ghadhban, energy adviser to Iraq's prime minister and Iran nominated a former oil minister Gholam Hossein Nozari. World oil prices were mixed Friday, with US-sold crude continuing recent gains which have sent it to three-month highs and Brent trending the opposite direction. New York's main contract, West Texas Intermediate (WTI) light sweet crude for September, rose 41 cents to $96.01 a barrel. Brent North Sea crude for delivery in October fell $1.56 to $113.71 a barrel, for largely technical reasons. “The drop in price is largely the result of the contract rollover. The October contract, which from today represents the reference price, was trading $2.50 lower than the September contract at the time of the rollover,” said analysts at Commerzbank. US oil prices had spiked Thursday thanks to a brighter demand outlook for the world's biggest economy. They continued that path Friday. Prices have also won support this week from fresh hopes of more economic stimulus measures by central banks - and notably by the central bank in commodities-hungry China. Crude futures were also lifted by Middle East unrest and tight North Sea crude supplies, traders said. – SG/Agencies
