Saudi Arabi’s crude oil exports rose to 7.28 mn barrels in September as domestic refineries reduced processing by 14.6%. The world’s largest crude exporter shipped 2.9 percent more crude while producing 0.3 percent less oil than it did in August, according to Joint Organisations Data Initiaitive (JODI).
Saudi Arabia pumped 9.72 million barrels of crude a day in September. Refineries in the kingdom processed 1.68 million barrels a day, down by 287,000 barrels a day from August, JODI said, citing statistics the Saudi government submitted to the Organization of Petroleum Exporting Countries.
Saudi Arabia, the largest producer in OPEC, stored 269.3 million barrels of crude within its borders in September, up from 269.1 million a month earlier, the data show. The country, which burns crude to produce electricity and desalinate water, is seeking increasingly to use natural gas as a substitute fuel. By doing do, the government plans to free up more crude for sale overseas, where the commodity can sell at higher prices than it does at home.