Saudi crude oil exports fall to 79-months-low
Baku, Azerbaijan, Oct.20
By Leman Zeynalova – Trend:
Saudi crude oil exports in September fell to 79-months-low of 6.549 million barrels per day, according to the report of the Joint Organizations Data Initiative (JODI).
This is while Saudi Arabia’s crude oil output rose to 9.973 million barrels per day in September from 9.951 million barrels per day in August 2017, the data shows.
The country’s oil exports in July fell by 196,000 barrels per day month-on-month to 6.693 million barrels per day - their lowest level in the last 34 months.
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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