| 18 April 2024, Thursday |

Saudi Arabia’s Crude Oil Production Exceeds 10 Mn Barrels

Saudi Arabia’s crude oil production increased by 110,000 barrels per day (bpd) on a monthly basis in December to 10.02 million barrels per day, according to recent data.

Crude exports slightly dropped from 6.949 million bpd in November to 6.937 million bpd, according to monthly export figures submitted by Saudi Arabia and other oil-exporting countries to the Joint Organizations Data Initiative (JODI).

JODI indicated that Saudi crude production rose last December by 1.04 million bpd.

Saudi Arabia, along with other OPEC member countries, is trying to increase production every month due to rising global demand after recovering from the COVID-19 pandemic.

JODI stated that the total Saudi oil exports, including crude and oil products, rose by 105,000 bpd on a monthly basis to 8.61 million bpd in December.

It added that exports of oil derivatives rose to a three-year high of 1.67 million bpd in December from 1.55 million bpd in November.

Domestic demand for oil products fell to 2.05 million bpd from 2.13 million bpd.

  • Asharq Al-Awsat