Saudi crude oil exports hit highest level in six months

RIYADH: Saudi Arabia’s crude oil exports rose in July to its highest level for six months, Arab News quoted figures released by the Joint Organisations Data Initiative (JODI).

Some 6.327 million barrels per day (bpd) were shipped from the kingdom, a rise of 0.362 million bpd compared to June.

The country’s total oil exports, crude and other products, stood at 7.650 million bpd in July, compared with 7.323 million bpd the previous month.

Crude output rose 0.547 million bpd to 9.474 million bpd in July from 8.927 million bpd in June, the figures posted by JODI show.

In July, domestic crude refinery throughput increased 2.5 per cent on a month-on-month basis to 2.457 million bpd, while the direct crude burned for electricity generation rose 0.105 million bpd, or 17.9 per cent, on a month-on-month basis to 0.691 million bpd.

Saudi Arabia’s July crude stocks remained virtually unchanged from June at 135.105 million barrels. The stocks decreased; however, 12.1 per cent from the same month a year ago, when the level was at 153.767 million barrels.