Saudi oil exports fall in February

Saudi Arabia’s crude oil exports in February fell to 7.553 million barrels per day from 7.835 million bpd in January, official data showed on Monday.

The world’s largest oil exporter produced 10.220 million bpd of crude in February compared with 10.230 million bpd in January, the data showed.

Monthly export figures are provided by Riyadh and other members of the Organisation of the Petroleum Exporting Countries to the Joint Organisation Data Initiative, which publishes them on its website.

Saudi Arabia’s domestic crude oil inventories fell to 305.599 million barrels in February from 314.119 million barrels a month earlier.

Domestic refineries processed 2.67 million bpd of crude, compared with 2.468 million bpd in January, while exports of refined oil products rose to 1.55 million bpd from 1.343 million bpd.

In February, crude oil burnt to generate power fell to 291,000 bpd from 293,000 bpd in January, the JODI data showed.

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