Baku, Azerbaijan, May 24
By Leman Zeynalova – Trend:
Saudi crude oil exports in June fell by 35,000 barrels per day (b/d) month-on-month to 6.89 million b/d, their lowest level over last 33 months, according to the report of the Joint Organizations Data Initiative (JODI).
The country’s crude oil export stood at 6.924 million barrels per day in May 2017, according to JODI data.
This is while, Saudi Arabia’s crude oil output has increased from 9.880 million barrels per day in May to 10.070 million barrels per day in June 2017, the data shows.
Saudi Arabia has undertaken the largest cut in oil output (486,000 barrels per day) among the participants of the OPEC deal signed last year in Vienna.
On May 25, 2017, OPEC member countries and non-OPEC parties, Azerbaijan, Kingdom of Bahrain, Brunei Darussalam, Kazakhstan, Malaysia, Mexico, Sultanate of Oman, the Russian Federation, Republic of Sudan, and the Republic of South Sudan agreed to extend the production adjustments for a further period of nine months, with effect from July 1, 2017.
The reductions will be on the same terms as those agreed in November.
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