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  • 21-08-21

    Saudi Arabia's crude oil exports increase in June

    (MENAFN)Saudi Arabia's crude oil exports increased for the second consecutive month in June, their highest level since January 2021, as more countries worldwide presented development in economic activities with vaccines roll out.

    Saudi official data reported that Crude exports increased by 5.6 percent from May to 5.965 million bpd, posted on Joint Organisations Data Initiative (JODI) website, as the Kingdom's output increased by 383,000 bpd to 8.927 million bpd in June from 8.544 million b/d in May.

    The improvement in Saudi exports came ahead of a deal in July by OPEC+ alliance to improve their output starting from August.1 by 400,000 bpd every month till the end of the year to convene the improvement in global demand for crude. However, oil prices today dropped to the lowest since May as more worries are now there regarding global economic recovery with spread of variants of Covid19 virus.

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