Saudi Arabia Says Its Crude Exports Fell Slightly In Feb

Saudi Arabia’s crude oil exports fell in February from a month earlier, while volumes used by local refineries remained steady, official date showed.

Saudi Oil Minister Ali al-Naimi has said the Kingdom was producing around 10 million barrels of oil a day in April and that he was “very positive” about Asian oil demand outlook.

The top oil exporter shipped 7.35 million barrels per day of crude oil in February this year, down from 7.474 million in January, data supplied by Saudi Arabia to the Joint Organisations Data Initiative (JODI) showed.

Despite the slight fall in Saudi’s exports in February, figures were higher than the average monthly crude shipments from May until December last year.

Production was steady in February at 9.636 million bpd from 9.680 million bpd in January, the data showed.

Refined oil products exports rose to 815,000 bpd in February from 798,000 bpd a month earlier, the JODI data showed.

Domestic refiners processed 2.084 million bpd of crude in February, down from 2.104 million bpd in January, according to the data.