Saudi crude exports hits nine-month high

KSA exported more than 7.8mn barrels a day in January

Oil exports on the up.
Oil exports on the up.

Saudi Arabia's crude oil exports in January rose to their highest level in nine months to 7.835mn barrels per day from 7.486mn bpd in December, according to Reuters.

The world's largest oil exporter and OPEC heavyweight produced 10.230mn bpd in January, a record high, compared with 10.144mn bpd a month earlier, the data showed, according to Arka News Agency.

Monthly export figures are provided by Riyadh and other members of the Organisation of the Petroleum Exporting Countries to the Joint Organisations Data Initiative (JODI).

Saudi Arabia's domestic crude oil inventories fell to 314.119mn barrels in January from 325.474mn barrels a month earlier.

Domestic refineries processed 2.468mn bpd of crude, compared with 2.312mn bpd in December, while exports of refined oil products fell to 1.343mn bpd in January from 1.441mn bpd the month before.

In January crude oil burnt to generate power fell to 293,000 bpd from 392,000 bpd in December, the JODI data showed

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