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Markets

Saudi crude exports hit 19-month high in November: JODI

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Saudi Arabia's monthly crude oil exports in November rose to 6.949 million barrels per day (bpd), the highest since April 2020, official data showed on Thursday.

Crude oil exports in November jumped 1.7% from 6.833 million bpd reported for October, data showed.

The world's largest oil exporter's crude output rose by 0.132 million bpd month on month to 9.912 million bpd in November, also the highest since April 2020.

Saudi Arabia's domestic crude refinery throughput rose 0.161 million bpd to 2.772 million bpd in November while direct crude burn rose 11,000 bpd to 339,000 bpd.

Saudi Arabia's October crude oil exports hit 18-month high

The kingdom's crude stocks fell by 4.428 million barrels to 132.378 million barrels.

Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) to the Joint Organizations Data Initiative (JODI), which publishes them on its website.

In a monthly report this week, OPEC said it expects higher output as the group and its allies, collectively known as OPEC+, gradually unwind record output cuts put in place last year.

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