Saudi crude oil exports fell to 6.935 mln bpd in May

Saudi Arabia has traditionally been the world’s biggest exporter of crude. (File photo: Reuters)

Saudi Arabia’s crude oil exports in May fell to 6.935 million barrels a day from 7.737 million barrels a day in April, official data showed on Sunday.

Domestic refiners processed 2.423 million bpd up from 2.224 million bpd in April, figures supplied by Riyadh to the Joint Organization Data Initiative (JODI) showed.

Saudi Arabia has traditionally been the world’s biggest exporter of crude and the kingdom’s rapid transition into one of the largest oil refiners adds an extra dimension to global oil markets.

Crude oil directly burnt by Saudi Arabia to generate power was up to 677,000 bpd in May from 358,000 bpd in April, the data published on JODI’s website showed.

JODI compiles data supplied by oil-producing members of global organizations including the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC).

Saudi Arabia’s crude production for May stood at 10.333 million bpd, slightly up from the April figure of 10.308 million bpd.

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Last Update: Wednesday, 20 May 2020 KSA 09:46 - GMT 06:46
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