A significant decrease in Saudi oil exports
reported by Mehr News Agency quoted by Oilprice, Saudi Arabia’s oil exports in July fell to the lowest in 11 months due to higher domestic consumption for electricity generation. fell last month.
The latest data from the Joint Data Initiative (JODI) showed that Saudi Arabia exported 5.74 million barrels per day of oil in July, down 306,000 barrels per day from June. The lowest amount of exports was from August 2023.
according to JODI data, Saudi Arabia saw a direct increase in its oil consumption by 211,000 barrels per day in July. was the highest amount of consumption in the last seven months.
Saudi Arabia’s oil production in July reached 8.94 million barrels per day, with an increase of 111 thousand barrels. Despite the increase in production, the country’s exports decreased, which shows that this increase in production was allocated for the direct consumption of crude oil for electricity generation.
