Saudi Arabian crude oil exports in July rose by about 3.3 per cent from June to 4.125 million barrels per day, the highest level since March, Reuters reports citing data from the Joint Organisations Data Initiative (JODI).
Saudi Arabia and other members of the Organisation of the Petroleum Exporting Countries provide monthly export figures for publishing on the JODI website.
Crude oil production in the kingdom increased to 8.135 million bpd from 7.122 million bpd in June.
“Saudi crude and product exports increased in July as regional tensions moderated,” says UBS analyst Giovanni Staunovo, though he adds that exports could be weaker in August, particularly from Red Sea terminals, because of renewed tensions involving the Houthis.
