Saudi oil exports rise after record low in September
Baku, Azerbaijan, Dec.18
By Leman Zeynalova – Trend:
Saudi Arabia’s crude oil exports rose to 6.874 million barrels per day in October, registering an increase of 325,000 barrels per day over the 79-months-low recorded in September, according to the report of the Joint Organizations Data Initiative (JODI).
The country’s oil export stood at 6.549 million barrels per day in September.
This is while Saudi Arabia’s crude oil output rose to 10.056 million barrels per day in October from 9.973 million barrels per day in September 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.
Earlier, OPEC and several other non-OPEC producers reached an agreement to extend the production deal for a further nine months. This would shift the expiration date of the agreement from March to the end of 2018. The agreement is on the same terms as those agreed in November last year.
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