Saudi Arabia continues to ratchet up crude oil exports to meet demand as prices rise, with exports rising in September for a fifth month in a row to their highest since January, Reuters reports, citing the Joint Organization Data Initiative (JODI).
Saudi Arabia’s crude oil exports increased to 6.516 million barrels per day (bpd) in September, from 6.450 million bpd in August. Total exports including oil products stood at 7.84 million bpd, the data showed. The Kingdom’s crude output rose by 100,000 bpd month on month to 9.662 mln bpd in September, its highest since April 2020.
The OPEC+ group of producer nations are raising output 400,000 bpd per month as they incrementally scale back output cuts made in 2020.
[Click here to read the full report in Reuters]
