Saudi Arabia’s crude exports and total product have risen over two consecutive months from its historical low in June by 1.49 million barrels per day (mmbbl/d) to 6.99 mmbbl/d in August, according to data from JODI.

In terms of just crude oil exports, they rose month-on-month (MoM) to 5.97 mmbbl/d in August, up from 5.73 mmbbl/d in July.

This compares to the Kingdom’s crude output which rose by 500,000 bbl/d to 8.98 mmbbl/d in August.

Saudi domestic crude refinery throughput rose by 23% to 2.58 mmbbl/d in August, while direct crude burn rose by 57,000 bbl/d to 702,000 bbl/d. Domestically, total oil product demand rose by 170,000 bbl/d in August to 2.55 mmbbl/d.

These exporting figures are a reflection of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) production cuts whereby Riyadh has a production target of just under 9 mmbbl/d.