RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2022-04-19 14:25:00

SAUDI ARABIA'S OIL EXPORTS UP

SAUDI ARABIA'S OIL EXPORTS UP

PLATTS - 18 Apr 2022 - Saudi Arabia's crude oil exports rose in February to their highest level since the record in April 2020 even as total supplies to the market dropped due to a reduction in direct use and refinery intake, according to data from the Joint Organisations Data Initiative.

Crude exports rose to 7.307 million b/d in February, the highest since the record 10.237 million b/d, from 6.996 million b/d in January, the JODI data published April 18 showed. Production climbed to 10.225 million b/d from 10.145 million b/d.

As the OPEC+ alliance continues to raise its quotas, Saudi production is set to rise in the months ahead, and the kingdom remains under pressure from its key customers to hike output even faster, to offset the impact of western sanctions on Russia over the Ukraine war. So far, Saudi Arabia has demurred, wary of upsetting the OPEC partnership with Russia.

For February, Saudi Arabia has a production quota of 10.227 million b/d, rising to 10.331 million b/d in March and 10.436 million b/d in April -- and an eventual target of 11 million b/d, under the OPEC+ deal.

The alliance will next convene May 5 to decide on June quotas.

Still, Saudi Arabia's supplies to the market declined in February to 10.104 million b/d from 10.175 million b/d in January.

Saudi crude for direct use fell to 291,000 b/d from 402,000 b/d in January while refinery intake declined to 2.506 million b/d from 2.777 million b/d. Saudi Arabia's total exports of crude products rose to 1.695 million b/d from 1.416 million b/d over the same period.

Crude inventories stood at 137.149 million barrels in February, up from 133.742 million barrels in January.

The JODI figures are maintained by the Riyadh-based International Energy Forum.

-----


Earlier:

SAUDI ARABIA'S OIL EXPORTS UP
2022, April, 18, 11:20:00
SUPPORT OF RUSSIA, SAUDI ARABIA
They spoke highly of the joint work in the OPEC Plus format aimed at ensuring the stability of the global oil market.
SAUDI ARABIA'S OIL EXPORTS UP
2022, April, 18, 11:15:00
SUPPORT OF SAUDI ARABIA, RUSSIA
During the telephone conversation, bilateral relations between the two countries and ways of enhancing them in all fields in a way that achieves the interests of the two countries and their friendly peoples were discussed.
SAUDI ARABIA'S OIL EXPORTS UP
2022, April, 8, 11:05:00
OPEC+ OIL PRODUCTION DOWN
OPEC's 13 members raised output by 60,000 b/d to 28.73 million b/d, but that was more than offset by a 160,000 b/d decline by the bloc's nine allies, who pumped 13.91 million b/d.
SAUDI ARABIA'S OIL EXPORTS UP
2022, March, 30, 10:55:00
OPEC+ WITHOUT POLICIES
Commenting on the Russia-Ukraine conflict, Saudi Arabia’s Prince Abdulaziz bin Salman said that OPEC puts political differences aside when its ministers meet and OPEC+ is doing the same.
SAUDI ARABIA'S OIL EXPORTS UP
2022, March, 22, 12:15:00
SAUDI ARAMCO NET INCOME $110 BLN
The Saudi Arabian Oil Company (“Aramco” or “the Company”) announced its full-year 2021 financial results, reporting that net income more than doubled year-on-year to $110.0 billion. Aramco declared a fourth quarter dividend of $18.8 billion, to be paid in the first quarter of 2022.
SAUDI ARABIA'S OIL EXPORTS UP
2022, March, 17, 16:45:00
SAUDI ARABIA, UAE, BRITAIN COOPERATION
Saudi Arabia and the United Kingdom signed a memorandum of understanding to establish a strategic partnership council. Earlier, Johnson met the Crown Prince of Abu Dhabi, Sheikh Mohamed bin Zayed Al-Nayhan, in Abu Dhabi.
SAUDI ARABIA'S OIL EXPORTS UP
2022, February, 9, 12:20:00
SAUDI ARABIA'S PRODUCTION CAPACITY 13.5 MBD
We are targeting our production capacity to become 13.4, 13.5 million barrels a day by 2027.
All Publications »
Tags: SAUDI, ARABIA, OIL, EXPORTS