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FinancialNews
20-09-22
JODI: Saudi crude oil shipments reach 7.38 million bpd in July
(MENAFN) Highest oil exporter Saudi Arabia’s July crude oil shipments earned for the second month in a row to their peak in over two years, as shown by data from the Joint Organization Data Initiative issued on Monday.
The nation’s shipments surged to 2.5 percent to 7.38 million barrels a day in July — peak since April 2020 — comparing to 7.20 million bpd in the month before (June).
The nation had surged its July crude expenses for Asian consumers to more-than-estimated rates due to worries around narrow provision and estimation of robust request in summer. It had also increased its OSP for European and Mediterranean purchasers, but left US differentials unaffected.
Saudi Arabia was India’s No. 3 provider in July, and also booked its place as the highest exporter to China throughout the January-June period of the year.
Saudi output also jumped to its peak in over two years to 10.815 million bpd from 10.646 million bpd in the prior month.
MENAFN20092022000045014228ID1104891877
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