RIYADH: Saudi Arabia’s crude oil exports rose for the fourth straight month to 6.16 million barrels per day (bpd) in October from 6.07 million bpd in September, official data showed on Thursday.
The world’s largest oil exporter’s total crude and oil products exports rose again month-on-month by 281,000 bpd to 7.38 million bpd, the data showed.
Saudi domestic crude refinery throughput rose by 2% to 2.4 million bpd in October, while direct crude burn dropped by 224,000 bpd to 391,000 bpd.
The country’s crude output dipped for a second straight month to 8.97 million bpd in October, the official figures showed.
Saudi Arabia said on Tuesday the COVID-19 outbreak has made predicting the oil market increasingly challenging. It cut oil output this year as part of a deal with OPEC and other producers to stabilise oil prices, which hit a 21-year low below $16 per barrel in April.
The prospect of a weaker demand recovery has already prompted OPEC and its allies, a group known as OPEC+, to slow the pace of their scheduled boost to oil output in 2021.
Monthly export figures are provided by Riyadh and other OPEC members to JODI, which publishes them on its website.—Reuters
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