Saudi Arabia’s Oil Exports Drop 3% in September

oil rig
  • 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.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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