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FinancialNews


  • 22-08-21

    Saudi Arabia’s crude oil exports reach 5.776M bpd in 1H of 2021

    (MENAFN)As Saudi Arabia voluntarily reserved output under OPEC+ production-cut deal, it could not ship more crude oil in the first half; but, high oil prices in 2021 supported the Kingdom to see stable income.

    JODI data reported that the Kingdom’s crude oil exports ranged 5.776 million barrels per day (bpd) in the January-June period of 2021, that is 19.8 percent less than 7.2 million bpd in the previous year same time span and 5.8 percent below 6.129 million bpd in second six months of 2020.

    Average daily crude output dropped in the January-June period of 2021 to 8.499 million bpd or 10.9 percent from 9.54 million bpd over the last year same period. The regular daily rate of output also dropped 4.5 percent from 8.895 million bpd in the second six months of 2020.

    The economy has showed stronger marks of recovery in line with global growth in the current year, leading to higher oil sales abroad and more non-oil activities at home.

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