SINGAPORE (ICIS)--Saudi Arabia’s crude production fell in August, down by 59,000 bbl/day on the previous month to 9.951m bbl/day, according to data from statistical body the Joint Organisations Data Initiative (JODI) released late on Wednesday
However, JODI data also revealed that Saudi crude exports rose by just 15,000 bbl/day in August compared to the previous month to 6.708m bbl/day.
Refinery output of oil products was also higher along with oil product exports and imports.
However, domestic refinery crude intake was lower than the previous month as was domestic oil product demand.
Under the extended OPEC production cut agreement, which became effective from 1 January 2017, Saudi Arabia was expected to cut production by 486,000 bbl/day from a reference production level of 10.54m bbl/day.
|Saudi Arabia||August 2017||Change on Jul|
|m bbl/day||m bbl/day|
|Refinery output of oil products||3.043||+0.133|
|Total product exports||1.448||+0.007|
|Demand oil products||2.667||-0.135|
|Imports of oil products||0.559||+0.012|