|20 August, 2019

Saudi crude oil exports fall in June - JODI data

The world's top oil exporter shipped 6.721 million barrels bpd in June, down from 6.942 million bpd in May

View of the production facility at Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia May 22, 2018. Image used for illustrative purpose.

View of the production facility at Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia May 22, 2018. Image used for illustrative purpose.

REUTERS/Ahmed Jadallah

DUBAI- Saudi Arabia's crude oil exports fell in June from the month before, official data showed on Tuesday, as the kingdom maintained its production below 10 million barrels per day to help drain a global supply glut and support oil prices.

The world's top oil exporter shipped 6.721 million barrels bpd in June, down from 6.942 million bpd in May, according to data from the Joint Organizations Data Initiative (JODI). It pumped 9.782 million bpd in June, up from 9.670 million bpd in May.

Saudi Arabia plans to keep its crude oil exports below 7 million bpd in August and September despite strong demand from customers, to bring the market back to balance, a Saudi oil official told Reuters earlier this month. urn:newsml:reuters.com:*:nL8N25451J

In July, OPEC and allies led by Russia agreed to extend oil output cuts until March 2020 to prop up the price of crude as the global economy weakens and U.S. production soars.

Saudi crude inventories rose to 187.900 million barrels in June from 187.723 million in May, the JODI data showed.

Saudi's local refineries processed 2.505 million bpd in June, up from 2.464 million bpd in May, according to JODI. Exports of refined oil products in June were slightly up to 1.276 million bpd, from 1.260 million bpd the month before, the data showed.

The OPEC heavyweight used 550,000 bpd of crude oil to generate power in June, down from 450,000 bpd the month before, while Saudi demand for oil products in June was 2.381 million bpd, up from 2.092 million bpd in May, according to the data.

Monthly export figures are provided by Riyadh and other members of OPEC to JODI, which publishes them on its website.

(Reporting by Rania El Gamal, editing by David Evans) ((rania.elgamal@thomsonreuters.com; +971 562 160 434; Reuters Messaging: rania.elgamal.reuters.com@reuters.net ; Twitter: https://twitter.com/Rania_ElGamal))

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