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KSA oil exports retreat 10% in February

KSA oil exports retreat 10% in February
(Photo Credit: Arabianeye-Reuters)

Riyadh – Mubasher: Saudi Arabia’s crude oil exports fell 9.73% to 6.96 million barrels per day (bpd) in February from 7.71 million bpd in January, official data released by the Joint Organisations Data Initiative (JODI) showed, according to Reuters.

Saudi crude production rose 263,000 bpd month-on-month to 10.011 million bpd in February, while domestic crude oil inventories grew to 2.741 million bpd from 264.704 million bpd in the year-ago period.

In February, crude oil burnt to generate power added 31,000 bpd to 283,000, while domestic refineries processed 546,000 bpd of crude to reach 2.673 million bpd, the JODI data showed.