Press "Enter" to skip to content

Saudi Arabia crude exports rise for fourth month in a row in August: JODI

Oct 18 (Reuters) – Saudi Arabia’s crude oil exports rose in August for the fourth consecutive month, reaching their highest level since January 2021, regional industry group JODI said on Monday.

The kingdom’s crude oil exports rose to 6.450 million barrels per day (bpd) in August, up from 6.327 million bpd in July, its highest volume since January 2021.

Total exports, including petroleum derivatives, were 7.90 million bpd.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC +, agreed in July to increase production by 400,000 barrels per day per month starting in August until their current 5-fold pumping cuts are completely eliminated. , 8 million bpd.

Output from the world’s largest oil exporter increased by 88,000 bpd month-over-month to 9.562 million bpd, a peak since April 2020.

The performance of Saudi Arabian refineries rose to 2.521 million bpd in August, a high not seen since the same month last year.

However, direct oil combustion fell 37,000 bpd to 654,000 bpd, JODI figures showed.

The monthly export figures are provided by the government in Riyadh and other OPEC members to the JODI organization, which publishes them on its website.

(Reporting by Bharat Govind Gautam and Brijesh Patel in Bengaluru. Edited in Spanish by Marion Giraldo)

Article Source

Disclaimer: This article is generated from the feed and not edited by our team.