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Saudi Arabia's crude oil exports hit record low in April
Saudi Arabia's crude oil exports fell by approximately one million barrels per day in April compared to the previous month, dropping to the lowest level recorded since 2002.
Saudi Arabia's crude oil exports fell by approximately one million barrels per day in April compared to the previous month, dropping to 3.99 million barrels per day. This figure represents the lowest export level seen since records began in 2002 by the Joint Organisations Data Initiative (JODI).
The sharp decline from 4.974 million barrels per day in March is linked to geopolitical tensions in the region and disruptions in the supply chain.
Production also declined
According to JODI data, Saudi Arabia's crude oil production also fell to 6.3 million barrels per day in April. This marks a significant decrease compared to the 6.9 million barrels per day production in March and constitutes the lowest production level in current records.
Various international organizations, including Eurostat, the International Energy Agency (IEA), and OPEC, provide data to JODI, a platform for global oil and gas statistics.
Refinery throughput and domestic consumption
The data showed that the amount of crude oil processed at Saudi refineries remained steady at 2.2 million barrels per day in April.
On the other hand, the amount of crude oil directly burned for electricity generation increased. This usage rose by 210,000 barrels per day compared to the previous month, reaching 540,000 barrels per day.
Amid the reshaping of the global energy trade map, the United States has risen to become the world's largest oil exporter. This development is interpreted as a transformation ending decades of dominance by Saudi Arabia and Russia.
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