Saudi crude oil exports rise in August to 7.6 million bpd

Data from the Joint Data Initiative (JODI) showed today, Monday, that Saudi crude oil exports rose for the third month in a row in August to the highest level in more than two years.

According to “Reuters”, crude exports increased nearly three percent to 7.6 million barrels per day in August, the highest level since April 2020, from 7.38 million barrels per day in July.

The production of the world’s largest oil exporters rose to 11.051 million barrels per day in August from 10.815 million barrels per day in July.

OPEC +, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, agreed to cut the production target by 2 million barrels per day at a meeting in Vienna this month.

The production of local crude oil refineries in Saudi Arabia increased by 38,000 barrels per day to 2.801 million barrels per day in August, while direct crude burning increased by three thousand barrels per day to 664,000 barrels per day.

The Kingdom and other members of OPEC provide monthly export data for the JODI initiative, which it publishes on its website.