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Page added on April 17, 2013
Saudi Arabia Boosts Oil Exports to 8-Month High
Saudi Arabia boosted crude exports in February to the highest level since June while it cut oil use at local power plants and refineries to the lowest since March 2011, according to Joint Organizations Data Initiative.
The kingdom, the world’s largest crude exporter, increased daily shipments to 7.45 million from 7.09 million a month earlier, the initiative known as Jodi said on its website today. It produced 9.15 million barrels a day during the month, the data show.
The country burned 294,000 barrels a day of crude at power plants, while processing 1.5 million barrels at refineries, according to the data.
Saudi Arabia’s Petroleum Ministry expects a bigger gain in oil demand this year than forecast by groups such as the Organization of Petroleum Exporting Countries and the International Energy Agency. It estimates world demand will increase by about 1 million barrels a day this year and exceed 90 million barrels “for the first time in history,” Ibrahim al-Muhanna, an adviser to Saudi Oil Minister Ali al-Naimi, said on April 10 in Kuwait.
JODI, supervised by Riyadh-based International Energy Forum, uses statistics supplied by national governments to compile data on production, imports and exports for oil- producing and consuming nations. Its data include crude and condensates, exclude natural gas liquids.
4 Comments on "Saudi Arabia Boosts Oil Exports to 8-Month High"
BillT on Thu, 18th Apr 2013 12:46 am
Getting desperate to keep the ‘never ending oil supply’ dream going aren’t they? Are they trying to convince me or themselves? ^_^
Arthur on Thu, 18th Apr 2013 8:41 am
There is still life in the old cat.
Others on Thu, 18th Apr 2013 11:49 pm
I guess they are switching oil fired power plants to Natgas and also planning to build solar power plants. Good move.
Lucas on Wed, 24th Apr 2013 8:59 pm
Ghawar oil fields are in their final stage of depletion. In spite of high rig counts and 7 million barrel sea water pushed in every day, the final decline will even be accelerated more. It will call for the real peak oil. And the end of Western prosperity.