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Saudi Arabia’s Oil Exports Drop 3% in September

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  • Saudi Arabia’s Oil Exports Drop 3% in September

Saudi Arabia’s crude oil exports dropped by 3 percent from 6.88 million barrels per day in August to 6.67 million barrels per day in September, the Joint Organizations Data Initiative (JODI) has shown.

Since the Kingdom’s two largest plants, Abqaiq and Khurais, were attacked on September 14, Saudi Arabia crude oil output dropped by almost 50 percent.

While the Kingdom has managed to improve production substantially, crude output fell by 660,000 barrels per day to 9.129 million in September according to JODI.

The country’s crude oil stocks dropped by 20.27 million barrels per day to 152.48 million barrels per day.

Still, domestic refinery crude output rose by 10,000 barrels per day to 2.584 million barrels per day.

The Organization of the Petroleum Exporting Countries (OPEC) provide JODI its monthly export figures.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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