Saudi Arabia’s crude oil exports increased in September for the fifth month in a row, according to official data posted on Jodi Data Initiatives Organization’s website.
The Kingdom exported 6.52 million barrels per day (bpd) of crude oil, up by one percent from August and 8 percent from a year ago, the data showed.
Saudi exports rise comes at the back of improved demand and gradual easing of self-imposed restraints under a production-curtailing agreement with OPEC+. Between April and September this year, the crude oil exports increased by nearly 15 percent.
September total crude oil and oil product exports from Kingdom’s terminals reached 7.84 million bpd, according to JODI data.
Growth in crude exports nearly replicated the pattern seen in crude output which grew for the fifth consecutive month in September to 9.662 million bpd from the low of 8.134 million bpd in April, rising by almost 19 percent.
On a year-on-year basis crude output increased by 7.6 percent in September compared to the 7.4 percent growth in crude exports during the same period.
Refinery intake slipped 1.2 percent in September to 2.49 million bpd after it hit 11-month high of 2.52 million bpd in August although it rose 5.8 percent compared to the level seen in September last year.
The direct use of crude oil at utilities came in lower in September at 543,000 bpd, down 17 percent from 654,000 bpd in August. It also fell 11.7 percent from September 2020.
On the other side, the year-to-date average level of oil used directly in power plants was slightly higher in September at 473,000 bpd compared to 454,000 bpd a year ago. —AN