Saudi Arabia’s April crude exports rose to a two-year peak of 7.382 million barrels per day (bpd) in April, data from the Joint Organizations Data Initiative (JODI) showed on Monday.
Crude exports in April rose about 2% from about 7.235 million bpd reported for March.
The world’s largest oil exporter’s April crude production also rose to its highest level in two years at 10.441 million bpd from 10.300 million bpd in the previous month.
Saudi Arabia is on track to lift oil production capacity by more than 1 million barrels per day to over 13 million barrels bpd by the end of 2026 or start of 2027, the energy minister said last month.
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The country’s domestic crude refinery throughput fell 0.235 million bpd to 2.538 million bpd in April while direct crude burn rose 62,000 bpd to 397,000 bpd.
Oil product exports eased 0.015 million bpd to 1.473 million bpd in April, while demand for oil products rose 0.177 million bpd to 2.234 million bpd in April, the data showed.
The data also highlighted that global oil demand fell month-on-month in April to below pre-pandemic levels as consumption softened across several Asian countries.
Meanwhile, Russia surpassed Saudi Arabia as top crude supplier to China in May as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine.
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 published them on its website.
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