Saudi crude oil exports hit five-month high in August, data shows

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Saudi Arabian crude oil exports in August rose by about 7.9 per cent from July to 4.451 million barrels per day (bpd), the highest level since March, Reuters reports citing data from the Joint Organisations Data Initiative (JODI).

Exports rose even as oil production fell to a record low of 6.24 million bpd from 8.135 million bpd in July, the data shows.

As exports increased, Saudi refinery crude throughput dropped by 181,000 bpd to 2.297 million bpd in August from 2.478 million bpd the previous month, it further indicates. Direct crude-burning increased by 43,000 bpd to 604,097 bpd.

Shipments from the Middle East have been severely disrupted since the US-Israeli war with Iran, begun at the end of February, led Iran to block exports through the Strait of Hormuz.

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