Saudi Data Show Rise In Dec Crude Oil Output, Lower Exports

NEW YORK -(Dow Jones)- Saudi Arabia, the world’s largest crude oil exporter, boosted its output in December by nearly 2% from November, to 9.206 million barrels a day, but reduced its exports by 2.2%, or 161,000 barrels a day, official data show.

The crude oil output figure is the highest reported by the kingdom since August 2006, figures submitted by the Saudis to the Joint Oil Data Initiative database.


JODI is a collaboration of international agencies representing producer and consumer governments aimed at improving oil industry data flow and his strongly backed by the Saudis.

The Saudi crude oil output figure for December, up 177,000 barrels a day from November, suggests the kingdom increased its oil production at the same time as the Organization of Petroleum Exporting Countries agreed on Dec. 5 in Abu Dhabi, UAE, to leave oil output levels unchanged.

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