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Saudi crude production exceeds 10 mln bpd in Dec; exports dip

Saudi Arabia’s crude oil production increased by 110,000 barrels per day month-on-month in December to 10.02 million bpd, official data showed on Sunday.

Exports fell slightly to 6.937 million bpd from 6.949 million bpd in November, according to monthly figures provided by Saudi Arabia and other oil-exporting countries to the Joint Organizations Data Initiative (JODI).

Saudi crude output in December was 1.04 million bpd above year-ago levels and 428,000 above December 2019 levels, according to the JODI website.

Along with other members of the Organization of the Petroleum Exporting Countries, Saudi Arabia is trying to ramp up output every month as global oil demand rises on the back of a recovery from the COVID-19 pandemic.

Total Saudi oil exports, including crude oil and oil products, rose by 105,000 bpd month-on-month to 8.61 million bpd in December, according to JODI.

Exports of oil products rose to a three-year high of 1.67 million bpd in December from 1.55 million bpd in November, it said. Internal oil product demand fell to 2.05 million bpd from 2.13 million bpd, it said.
Source: Reuters (Reporting by Maher Chmaytelli; Editing by Raissa Kasolowsky and Jan Harvey)

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