Saudi Crude Exports Rose 7.9% in August Despite Record Low Production

Saudi Arabia's crude oil exports climbed approximately 7.9% month-over-month in August to 4.451 million barrels per day, reaching their highest level since March, according to Joint Organizations Data Initiative data. The export increase occurred even as domestic crude production dropped sharply to a record low of 6.24 million bpd from 8.135 million bpd in July. Domestic refinery crude throughput decreased by 181,000 bpd to 2.297 million bpd, while direct crude burning rose by 43,000 bpd to 604,097 bpd to meet seasonal domestic power demand.