Saudi crude exports rise 4.4% in November 2019-JODI
Saudi Arabia’s crude oil exports in November 2019 rose 4.4% to 7.37 million barrels per day (bpd), from 7.06 million bpd in October, official data showed on Monday.
However, the country’s crude output fell by 412,000 bpd to 9.89 million bpd in November, while crude stocks fell by 1.07 million barrels to 167.01 million barrels, the data from the Joint Organisations Data Initiative (JODI) showed.
Led by de facto leader Saudi Arabia, the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed last December to deepen output cuts for the first quarter of 2020.
Meanwhile, Saudi Energy Minister Prince Abdulaziz bin Salman had said last October that the kingdom’s oil production would recover in October and November of 2019 to levels above those seen before attacks on its energy installations in September.
Saudi Arabia and other members of OPEC provide monthly export figures to JODI, which publishes them on its website.
Source: Reuters (Reporting by K. Sathya Narayanan in Bengaluru; Editing by Alex Richardson)