Saudi crude exports hit 21-month high in January

Official data revealed that Saudi crude oil exports rose in January to 6.996 million barrels per day, the highest level since April 2020.

The data indicated increase in Saudi crude oil exports by 0.9 percent in January from 6.937 million barrels per day in December.

The production of the world’s largest oil exporter rose 0.123 million barrels per day from last month to 10.145 million barrels per day in January, which is also the highest level since April 2020.

Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries (OPEC) provides monthly export data for the data initiative joint (Judy) which it publishes on its website. Saudi Arabia, along with OPEC, is trying to increase production each month as global demand for oil rises, supported by recovery from the consequences of the Covid-19 pandemic.

The amount processed by local crude oil refineries in Saudi Arabia rose by 0.083 million barrels per day to 2.777 million barrels per day in January, while direct burning of crude oil rose by 84,000 barrels per day to 402 thousand barrels per day. day.