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Saudi Crude Oil Exports Drop to 6.047 Million Barrels Per Day

August 20, 2024

Data from the Joint Organizations Data Initiative (JODI) revealed on Tuesday that Saudi Arabia’s crude oil exports dropped to 6.047 million barrels per day in June, a decline of 0.071 million barrels per day month-on-month. According to JODI, Saudi crude production decreased by 0.163 million barrels per day month-on-month to 8.830 million barrels per day in June. Saudi Arabia and other OPEC members provide monthly export figures to JODI, which publishes them on its website. Additionally, direct crude burning in Saudi Arabia increased by 160,000 barrels per day in June to 558,000 barrels per day, while crude stocks fell by 1.752 million barrels per day to 134.193 million barrels per day. The report also noted a decline in refinery crude consumption by 523,000 barrels per day to 2.423 million barrels per day in June, while Saudi demand for oil products rose by 0.391 million barrels per day to 2.746 million barrels per day, and exports of oil products increased by 0.145 million barrels per day to 1.366 million barrels per day in June.