Saudi Arabia’s Crude Exports Fell in June

Saudi Arabia’s Crude Exports Fell in June

Saudi Arabia’s exports of crude oil declined 35,000 barrels per day (b/d) in June 2017 from May 2017, Egypt Oil & Gas reports.

In June, Saudi Arabia exported 6.89 million b/d, the lowest amount in 33 months, according to data released by the Joint Organizations Data Initiative (JODI).

The country produced more crude in June, but demand offset the increased production, Reuters reports. Usage of crude oil to generate electricity rose from 76,000 b/d in May to 680,000 b/d in June.

This heightened demand was driven by the higher summer temperatures and the increased electricity usage associated with the month of Ramadan, according to Reuters.  Overall domestic demand for crude-oil products increased to 2.634 million b/d in June from 2.535 million b/d in May, a 3.9% increase.


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