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Saudi oil exports drop 3.86m bpd in May

Saudi oil exports drop 3.86m bpd in May
Exported petroleum products increased by about 358,000 bpd

By: El-Sayed Gamal

Riyadh – Mubasher: Saudi Arabia’s oil exports plunged by 3.86 million barrels per day (bpd) to 7.48 million bpd in May from 11.34 million bpd a month earlier, the Joint Organisations Data Initiative’s (JODI) data showed on Thursday.

The decline was ascribed to the steep drop in the kingdom’s crude oil exports by 4.217 million bpd or 41.2% month-on-month to 6.02 million from 10.237 million in April.

On the other hand, exports of petroleum products increased by about 358,000 bpd to 1.456 million in May from 1.098 in April.