Saudi Arabia’s crude exports fell to a six-month low in April despite output remaining near record levels. The Riyadh-based Joint Organisations Data Initiative’s (Jodi) latest data shows that exports fell 97,000 b/d, despite production edging up 18,000 b/d – MEES estimates put production falling by 20,000 b/d (MEES, 10 June).
The key driver of the lower exports was a seasonal rise in direct crude burn, which hit an all-time April record of 501,000 b/d, up by 104,000 b/d on March and by almost 150,000 b/d on the same month a year earlier. (CONTINUED - 900 WORDS)
