RIYADH: Saudi crude oil exports and production went up in October to reach their highest levels since April 2020, Arab News quoted data released by Jodi.

Saudi crude oil exports grew by 317,000 barrels/day to hit 6.83 million bpd.

This corresponded to a monthly 5 per cent increase from 6.52 million bpd in September.

In annual terms, outgoing oil shipments were up by 10.9 per cent.

Similarly, crude oil production increased to 9.78 million bpd in October, slightly up from September’s 9.66 million bpd. This was accompanied by a 9 per cent yearly growth.

The direct use of crude oil, which measures oil usage for generating electricity, fell sharply by 40 per cent to 0.328 million bpd in October.

Moreover, Saudi Arabia’s crude stock experienced a slight uptick to 136.8 million barrels in October, up from 136.5 million bpd in the previous month.

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