Tuesday, September 13, 2016

Saudi Arabia has reduced oil exports

Saudi Arabia has reduced oil exports in February to 7.553 million barrels per day

ABU DHABI (Reuters) - Saudi Arabia in February reduced oil exports to 7.553 million bpd from 7.835 million in January, according to official statistics.

In the reporting month, the country of oil extraction decreased to 10.220 million barrels per day with 10.230 million in January, according to the Joint Oil Data Initiative to (JODI) - the organization that collects data on the world oil market.

Monthly data on exports provided JODI Riyadh and other members of the Organization of Petroleum Exporting Countries (OPEC) and published on the website of the organization.

According to JODI, the oil reserves in Saudi Arabia fell to 305.599 million barrels in February to 314.119 million barrels the previous month.

Oil refining in the country's refineries in February totaled 2.67 million barrels per day compared to 2,468 in January, while exports of waste petroleum products rose to 1.55 million barrels to 1.343 million.

Oil consumption for power generation in February decreased to 291.000 barrels per day from the previous month 293.000.



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