Saudi oil exports in August hit the highest level since April 2020

Saudi oil exports in August hit the highest level since April 2020
Saudi oil exports in August hit the highest level since April 2020

Mubasher – Mr. Jamal: Saudi oil exports continued to rise during August 2021 for the fifth consecutive month; to its highest level in 16 months.

Saudi oil exports (crude and petroleum products) increased; According to the data of the Joint Data Initiative for the oil-producing countries “JODI”, issued today, Monday, by 247 thousand barrels per day during the month of August 2021 on a monthly basis.

Last August, Saudi oil exports reached 7.897 million barrels per day; To record its highest level in 16 months since it reached 11.335 million barrels per day in April of 2020.

And exports increased compared to the levels of last July, which amounted to 7.650 million barrels per day, and compared to 7.323 million barrels per day in June.

On an annual basis, Saudi oil exports increased during the month of August 2021 by 13% on an annual basis, compared to its exports in the same month last year, which amounted to 6.985 million barrels per day; to rise by 912 thousand barrels per day.

Saudi oil exports increased during the month of August 2021; Supported by the increase in crude oil exports for the fourth consecutive month, by 123 thousand barrels per day compared to the previous month.

The Kingdom’s crude exports amounted to 6.450 million barrels per day last August, the highest level since January 2021, during which they reached 6.582 million barrels per day, rising from the exports of last July, which amounted to 6.327 million barrels per day.

Similarly, exports of petroleum products increased by 124,000 barrels per day in August 2021; It reached the level of 1.447 million barrels per day, which is the highest level in 15 months since it reached the level of 1.457 million barrels per day in May of 2020.

Oil product exports amounted to 1.323 million barrels per day in July 2021, compared to 1.358 million barrels per day in June, and 1.286 million barrels per day in May.

According to “Judi” data, Saudi oil stocks (crude and products) continued to decline at the end of August by 463,000 barrels on a monthly basis, to reach 234.18 million barrels, compared to 234.64 million barrels at the end of the previous month.

The proportion of petroleum products from the Kingdom’s total oil stocks rose to 43% at the end of August, compared to 42% at the end of July 2021, knowing that it increased compared to 21% formed in 2015.

The total demand for Saudi oil products continued to rise in August 2021, on a monthly basis, by 104,000 barrels per day, recording 2.47 million barrels per day, compared to 2.36 million barrels per day last July, and 2.32 barrels per day in June. June.

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