Official data: Saudi crude exports increased to 6.16 mln bpd in October

On Thursday, official data revealed that Saudi Arabia’s crude oil exports increased for the fourth successive month to 6.16 million barrels per day (bpd) in October from 6.07 million bpd in September.

The data also showed that the world’s largest oil exporter’s total crude and oil products exports monthly increased by 281,000 bpd to 7.38 million bpd. Moreover, Saudi local crude refinery throughput increased by 2 percent to 2.4 million bpd in October, whereas direct crude burn reduced by 224,000 bpd to 391,000 bpd.

The official numbers also indicated that the country’s crude production declined for a second straight month to 8.97 million bpd in October.

On Tuesday, Saudi Arabia stated that the COVID-19 outbreak has made the prediction about the oil market increasingly in challenge. This year, it reduces oil production as part of a deal with OPEC and other producers to stabilize oil prices that recording a 21-year low below $16 per barrel in April.

The possibility of a lower demand recovery has already pushed OPEC and its allies, which is a group known as OPEC+, to reduce the pace of their programmed increase to oil output in 2021.

Riyadh and other OPEC members are monthly provide export numbers to JODI, which issues them on its website.

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