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Saudi crude oil exports fell to their lowest level in eight months in February

 Last Update: 2023-01-03
 Source: Internet
 Author: User

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Saudi Arabia's crude exports fell to their lowest level in eight months in February, the world's largest oil exporter voluntarily curbing output to support prices
, the Joint Data Initiative (JODI) said on Monday.

Crude oil exports fell to 5.
625 million b/d from 6.
582 million b/d in the previous month, the lowest level
since June 2020.

However, exports rose for the seventh consecutive month in January, reaching their highest level
since April 2020.

Crude oil production also fell to its lowest level since June at 8.
147 million b/d from 9.
103 million b/d
in January.

Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries (OPEC) and allies, voluntarily cut production by 1 million b/d in February, March and April as part of
a deal with OPEC+ producers.

Total exports of crude oil and petroleum products fell to 6.
86 million b/d in February from 7.
75 million b/d
a month ago.

Crude oil production from the country's domestic refineries fell to 2.
281 million b/d, while crude inventories fell to 134.
575 million b
/d in February.

Exports of petroleum products rose to 1.
23 million b/d in February, while demand for petroleum products edged up to 1.
885 million b/d
over the same period.

Riyadh and other OPEC members provide monthly export data to JODI, which JODI publishes on its website
.

Crude oil exports fell to 5.
625 million b/d from 6.
582 million b/d in the previous month, the lowest level
since June 2020.

However, exports rose for the seventh consecutive month in January, reaching their highest level
since April 2020.

Crude oil production also fell to its lowest level since June at 8.
147 million b/d from 9.
103 million b/d
in January.

Total exports of crude oil and petroleum products fell to 6.
86 million b/d in February from 7.
75 million b/d
a month ago.

Crude oil production from the country's domestic refineries fell to 2.
281 million b/d, while crude inventories fell to 134.
575 million b
/d in February.

Exports of petroleum products rose to 1.
23 million b/d in February, while demand for petroleum products edged up to 1.
885 million b/d
over the same period.

Riyadh and other OPEC members provide monthly export data to JODI, which JODI publishes on its website
.

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