Saudi Arabia crude exports fall to 7.278mln bpd in Feb
Saudi Arabia’s crude oil exports in February slipped to 7.278 million barrels per day from 7.294 million bpd in January, official data showed.
Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) to the Joint Organizations Data Initiative (JODI), which published them on its website.
The top OPEC exporter pumped 9.784 million bpd in February, up from 9.748 million bpd in January, data on the Riyadh-based Joint Organisations Data Initiative (JODI) website showed.
Saudi crude exports in February remained in line with its commitments under a deal reached in December by between the Organization of the Petroleum Exporting Countries (OPEC) and other producers, a group dubbed OPEC+.
Saudi Arabia’s direct crude burn in February rose by 26,000 bpd in February to 318,000 bpd.
Its crude stocks fell by 682,000 to 153.286 million barrels.
Local refineries processed 2.212 million bpd in February versus 2.202 million bpd in January, according to JODI. Oil products exports fell by 198,000 bpd to 550,000 bpd while domestic demand for oil products fell by 56,000 bpd to 2.155 mln bpd.
Source: Reuters (Reporting by Hadeel Al Sayegh; writing by Dahlia Nehme; editing by Jason Neely)