With burning set to have risen further in June and July, exports have likely been further squeezed despite Saudi Arabia having raised output to 10.07mn b/d in June, the highest level this year and up 190,000 b/d on May.
Saudi Crude Exports Lowest Since 2014 As Oil Burning Ramps Up
21 Jul 2017
Issue:
60 / 29
Saudi crude oil exports averaged 6.924mn b/d in May, their lowest level since October 2014 and down 82,000 b/d from April. This comes as crude burning rose by 180,000 b/d to 604,000 b/d in line with seasonal trends.
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Tables
Saudi Key Oil Data (‘000 B/D): Riyadh Cuts Crude Output, Exports In May, Draws Down Stocks
Charts
1: Us Imports From Saudi Arabia Fall To 688,000 B/D In July*, Test Multi-Year Lows (Mn B/D)
2: Us Net Oil Imports Fall To 4.28mn B/D For 1h 2017, Level With 1985 Record Low.* Saudi Volumes Steady, Share Hits Record 28.5%
3: Saudi Arabia Crude Supply (Mn B/D): Exports Fall To 31-Month Low In May Ahead Of Peak Summer Crude Burn Period
4: Saudi Arabia Monthly Crude Burn (‘000 B/D): 2017 Consistently Lower Than 2016
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