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Saudi crude exports drop to eight-month low in February | Hellenic Shipping News Worldwide

Saudi crude exports drop to eight-month low in February Saudi Arabia’s crude oil exports fell to their lowest in eight months in February, the Joint Organisations Data Initiative (JODI) said on Monday, as the world’s biggest oil exporter voluntarily capped output to support oil prices. Crude exports fell to 5.625 million barrels per day (bpd), their lowest since June 2020 in February, from 6.582 million bpd in the prior month. Exports had risen for a seventh straight month, to their highest since April 2020, in January. Crude output for February also dropped to its lowest since June last year at 8.147 million bpd, from 9.103 million bpd in January.

Saudi Crude Oil Exports Fall to 5 6Mn Barrels Per Day

Tuesday, 20 April, 2021 - 10:15 Oil prices hover near $65 a barrel (Reuters) London- Asharq Al-Awsat Saudi Arabia’s crude oil exports fell to their lowest in eight months in February, the Joint Organizations Data Initiative (JODI) said on Monday. Crude exports fell to 5.625 million barrels per day (bpd), their lowest since June 2020 in February, from 6.582 million bpd in the prior month. Monthly export figures are provided by Riyadh and other OPEC members to JODI, which publishes them on its website. Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries (OPEC) and allies, voluntarily cut output by one million bpd in February, March, and April as part of a deal with OPEC+ producers after new virus variants cast doubts over fuel demand.

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