Saudi Arabia crude oil exports fall slightly in June: JODI

17 Aug 2017   Saudi Arabia

Saudi Arabia’s crude oil exports in June fell slightly to 6.889 million barrels per day (bpd), 35,000 bpd lower than the May level, official data showed. OPEC’s biggest producer also pumped 10.070 million bpd in June, up 190,000 bpd from May, according to a posting on the Joint Organizations Data Initiative (JODI) website. The kingdom increased direct-burn crude used for power generation in June as demand for electricity increases during the hot summer months. It used 680,000 bpd of crude oil to generate power in June, up 76,000 bpd from May. The Muslim fasting month of Ramadan, when the use of electricity surges, ran from May 27 to June 25 this year. Saudi demand for oil products rose to 2.634 million bpd in June, up from 2.535 million bpd in May. The kingdom also continued to draw crude oil from its inventories, which fell […]

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