Saudi Crude Oil Exports Rise to Two-Year Peak in April

Saudi Crude Oil Exports Rise to Two-Year Peak in April

Saudi Arabia’s April crude exports rose to a two-year peak of 7.382 million barrels per day (bpd) in April from 7.235 million bpd in March, data from the Joint Organizations Data Initiative (JODI) showed on Monday.

The Kingdom’s crude oil output also increased to 10.441 million barrels per day in April, up from 10.3 million bpd in March.

Saudi Arabia is on track to lift oil production capacity by more than one million bpd to over 13 million barrels bpd by the end of 2026 or early 2027, the energy minister said last month.

The country’s domestic crude refinery throughput fell 0.235 million bpd to 2.538 million bpd in April while direct crude burn rose 62,000 bpd to 397,000 bpd.

Oil product exports eased 0.015 million bpd to 1.473 million bpd in April, while demand for oil products rose 0.177 million bpd to 2.234 million bpd in April, the data showed.

The data also highlighted that global oil demand fell month-on-month in April to below pre-pandemic levels as consumption softened across several Asian countries.

Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) to JODI, which publishes them on its website.

Meanwhile, China's crude oil imports from