Saudi crude oil exports increased by 3% last October!

Data from the Joint Organizations Data Initiative (JODI) released today, Wednesday, revealed that Saudi Arabia’s crude oil exports increased by 3% in October, reaching 5.925 million barrels per day compared to September.

According to the data (which was reported by Reuters), the crude oil inventories in Saudi Arabia increased by 2.619 million barrels, totaling 141.231 million barrels at the end of October.

Conversely, Saudi Arabia’s crude oil production saw a slight decrease of 0.003 million barrels per day compared to the previous month, stabilizing at 8.972 million barrels per day. Additionally, the data also showed a decline in domestic demand for petroleum products by 0.1134 million barrels per day, reaching 2.49 million barrels per day during October.

It is noteworthy that these figures are part of the monthly data provided by Saudi Arabia and other members of the "OPEC" organization to the JODI initiative, which publishes them on its website.

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