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Saudi crude stock draws continue, exports fall due to production cut

Dubai Saudi Arabia drew again on its crude stockpiles in February, while exports fell, reflecting the impact of its voluntary 1 million b/d production cut in addition to its OPEC+ production quota, figures from the Joint Organizations Data Initiative showed. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The kingdom exported 5.63 million b/d in February, according to JODI data released April 19, down 957,000 b/d from January. February saw the breaking of a seven-month run of increase that shipments since a long-term low of 4.98 million b/d in June when stringent OPEC+ production caps were in effect. It was the highest since April 2020.

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