Saudi Arabia’s crude exports increased to 6.3 million barrels per day in October, a rise of 543,000 bpd or 9.44 percent compared to the previous month, according to data released by the Joint Organizations Data Initiative.
The report indicated that the Kingdom’s crude production in October declined slightly by 35,000 bpd to 8.94 million bpd, a 0.39 percent decline from September. In the end of November, Saudi Arabia announced the extension of its voluntary crude output cuts, amounting to 1 million bpd until the conclusion of the first quarter of 2024, in coordination with members of the Organization of the Petroleum Exporting Countries and its allies, a grouping known as OPEC+.—AN
