Saudi Arabia’s crude oil exports increased by 5.4 percent in January as exports from other OPEC countries such as Algeria, Nigeria, Ecuador, and Kuwait fell, official primary data from exporting countries showed today.
Saudi Arabia’s crude oil exports reached 6.39 million barrels per day in January from 6.05 million barrels in December, according to Saudi official data posted on the Joint Data Initiativewebsite, known as JODI.
Exports from Algeria fell by 122,000 bpd to 684,000 bpd, while they fell in Nigeria by 146,000 bpd to 2.41 million bpd. Kuwait’s exports fell slightly by 11,000 bpd and exports fell by 17,000 bpd in Ecuador.
Exports from the rest of the 13 member countries of OPEC increased during that month with exception of the UAE, which did not submit data.
Significant increase in crude oil exports during January came from Saudi Arabia and Venezuelaafter they added 347,000 bpd and 168,000 bpd, respectively.
JODI is supervised by the Riaydh-based International Energy Forum and its data goes back to 2002. The initiative only runs primary official data from submitting parties.
Saudi Arabia, the world’s largest holder of proven oil reserves, increased crude oil output in January by 460,000 bpd above its OPEC quota.
The country’s output reached 8.51 million barrels per day in January after it added 149,000 barrels per day from December, the data showed.
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