Saudi Press

Saudi Arabia and the world
Thursday, Jul 10, 2025

Saudi Arabia’s crude oil exports at 30-month high: JODI data

Saudi Arabia’s crude oil exports at 30-month high: JODI data

Saudi Arabia’s crude oil exports in October rose to 7.77 million barrels per day from 7.72 million bpd in September, hitting a 30-month high as global demand climbed counter-seasonally in the month, according to the latest data from the Joint Organizations Data Initiative.
The report, however, noted that the Kingdom’s crude production decreased by 84,000 bpd in October to 10.96 million bpd.  

JODI, in its report, noted that demand growth was primarily driven by gains in China, US and India. 

The report further pointed out that Saudi refinery intake in October was reduced by 14,000 bpd to 2.68 million bpd, while total product exports for the month rose by 137,000 bpd to 1.58 million bpd. 

Earlier in December, the Organization of Petroleum Exporting Countries and its allies, known as OPEC+, agreed to maintain status quo on output.  

In October, OPEC+ had agreed to cut output by 2 million barrels per day, which equals to about 2 percent of world demand, from November until the end of 2023. 

According to the report, global demand was at 99 percent of pre-COVID levels in October, while crude production was at 96 percent of pre-pandemic levels.  

The data suggested that Russian oil production fell by 107,000 bpd to 9.88 million bpd in October, primarily due to the conflict in Ukraine which made many European nations stay away from Russian energy imports.  

Russian gas production, however, increased slightly for the third consecutive month, but was still 22 percent below March levels and at a five-year seasonal low. 

The report added that China’s oil demand increased in October by 518,000 bpd, as Asia’s biggest economy started easing COVID-related restrictions.  

Crude imports to China also rose by 368,000 bpd in October to 10.19 million bpd, the highest in five months.  

In the US, crude production fell by 297,000 bpd to 11.97 million bpd in October. 

US total product demand increased in October by 621,000 bpd, while diesel demand in the country rose by 129,000 bpd. 

US crude oil closing stocks fell by 8.38 mb in October and are now at their lowest level recorded in JODI, since its data collection which began on January 2002. 

Global natural gas demand rose by 5.8 billion cubic meters in October, less than the seasonal average gain of 14.5 bcm, while gas production rebounded in October, increasing 10.6 bcm month-on-month.

Meanwhile, OPEC, in its monthly report noted that oil demand in 2023 will rise by 2.25 million bpd, or about 2.3 percent, after growth of 2.55 million bpd in 2022. 

“Although global economic uncertainties are high and growth risks in key economies remain tilted to the downside, upside factors that may counterbalance current and upcoming challenges have emerged as well,” OPEC said in the report.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
×