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Saudi Arabia crude oil exports highest in January this year

Industry

Saudi Arabia’s crude oil exports rose to their highest level in January 2015 since April last year, official data has revealed

The oil exporter had shipped 7.474mn bpd in January this year, up from 6.934mn in December 2014, data published by the Joint Organisations Data Initiative (JODI) showed.

The kingdom’s oil minister Ali al-Naimi said that the demand was growing and expected oil prices, which hit a near six-year low in January this year, to stabilise.

Production was steady in January at 9.68mn bpd from 9.63mn bpd in December, the data showed.

According to Reuters, crude supplies from Saudi Arabia — for both exports and the domestic market — were 9.75mn bpd in January 2015, 14,000 bpd higher than the month before.

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