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Saudi Arabia cuts oil output in February

Saudi Arabia cuts oil output in February
Saudi crude exports went down to 6.98 million bpd in February

Riyadh – Mubasher: Saudi oil exports shrank for the third successive month in February, according to the Joint Organisations Data Initiative’s (JODI) data revealed.

The kingdom’s total oil exports declined by around 432,000 barrels per day (bpd) to reach 8.44 million bpd in February, compared to 8.87 million bpd in the month before.

Saudi crude exports went down to 6.98 million bpd in February, while exports of petroleum products retreated to 1.46 million bpd.

On the other hand, crude inventories grew to 204.57 million bpd in February from 200.83 million bpd.