Saudi Arabia exported 5.7 million barrels per day (mbbl/d) of oil in July, the lowest level since August 2023, official data has revealed.
The kingdom, the world’s second-largest oil producer, saw its crude exports fall by around 5.1% from 6.1mbbl/d in June. Meanwhile, its production rose very slightly to 8.9mbbl/d.
However, Saudi refineries' crude throughput fell slightly to 2.4mbbl/d.
The figures were released on Thursday from JODI, an international collaboration launched in 2001 to improve the reliability of oil and gas data.
In June, both OPEC and OPEC+ agreed to maintain oil output reductions until 2025.
Offshore Technology recently reported that with just a few members exceeding their agreed limits, oil production from OPEC has remained constant for the third month in a row.
The intergovernmental body produced an average of just under 27mbbl/d in June, some 80,000 barrels per day less than during the previous month.
Offshore Technology reported a few day ago that China is likely to see a 7% monthly increase in Saudi Arabian Oil imports in October as the kingdom cuts prices for Asian nations and refiners in China seek more of its crude.
According to several US media outlets, citing industry sources, the Saudi exports are set to reach just over 46mbbl next month, up from 43mbbl in September.
China’s slight rise in imports follows Saudi Aramco dropping its official Asia selling price for its Arab Light crude, making imports more attractive.
