• 4 minutes China goes against US natural gas
  • 12 minutes WTI @ 67.50, charts show $62.50 next
  • 15 minutes Saudi Fund Wants to Take Tesla Private?
  • 50 mins Downloadable 3D Printed Gun Designs, Yay or Nay?
  • 40 mins Peak Oil is Now!
  • 3 hours Rattling With Weapons: Iran Must Develop Military To Guard Against Other Powers
  • 5 hours Russians hacking vs U.S., Microsoft President: Russians Targeting All Political Sides
  • 1 hour Corporations Are Buying More Renewables Than Ever
  • 11 hours VW Receives Massive Order Of 1,600 All-Electric Trucks
  • 22 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 19 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 23 hours CO2 Emissions Hit 67-Year Low In USA, As Rest-Of-World Rises
  • 1 day Starvation, horror in Venezuela
  • 16 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 1 day The EU Loses The Principles On Which It Was Built
  • 1 day The Discount Airline Model Is Coming for Europe’s Railways
Alt Text

Saudi Investment Fund Eyes Tesla Rival

Saudi Arabia’s wealth fund PIF…

Alt Text

Oil Prices Fall Despite Supply Fears

Oil prices started the day…

Alt Text

Iran Sanctions Could Backfire On U.S. Drillers

After the U.S. announced new…

Irina Slav

Irina Slav

Irina is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing on the oil and gas industry.

More Info

Trending Discussions

Saudi Oil Exports Fall To Six-Year Low In September

oil tanker

Saudi Arabia’s crude oil exports in September hit a six-year low at 6.55 million barrels daily, according to data from JODI, cited by senior Platts oil analyst Sammy Six. At the same time, however, Six says, exports of refined oil products surged to 1.55 million bpd in the same month – an all-time high as the Kingdom seeks to shift its focus away from crude and towards oil products.

According to TankerTrackers data, Saudi crude exports continued to fall in the next two months as well. The cargo-tracking website has calculated that Saudi exports in October averaged 6.68 million bpd—down from a calculated 6.7 million bpd for September. This month, Saudi Arabia has been shipping abroad an average 5.7 million bpd.

The discrepancy between data supplied by the Kingdom to JODI and the figures calculated by TankerTrackers are another indication that nobody can be certain about even so-called official data anymore. Earlier this month, data analytics company Orbital Insight, for example, said its satellite images suggest Saudi Arabia may have misled JODI about the size of its crude oil inventories.

The downward export trend, however, seems to be a fact even if there are differences in the data for any given month. The Kingdom has repeatedly made it clear that it is ready to go to great lengths to ensure the success of the OPEC production cut deal it agreed to last year, especially now, with the next Vienna Club meeting round the corner.

This meeting should produce an extension of the deal, despite recent uncertainty about Russia’s willingness to go along with another extension. Opinions differ, with some observers arguing the world’s largest producer would be better off without the cut and others countering with the fact that Russia and Saudi Arabia’s rather new and fragile alliance may not be able to withstand Moscow bowing out of the pact.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment
  • Jeffrey J. Brown on November 22 2017 said:
    In any case, annual Saudi net oil exports (total petroleum liquids)--after increasing from 7.1 minion bpd in 2002 to 8.7 million bpd in 2005, about a 7%/year rate of increase--have been below their 2005 rate for 11 straight years, through 2016 (BP data base).

    By definition, it's not whether, but to what degree, that Saudi Arabia has depleted their remaining supply of post-2005 Cumulative Net Exports of oil (CNE), but based on the 2005 to 2016 rate of decline in their ratio of production to consumption, I estimate that Saudi Arabia has already shipped about half of their post-2005 CNE.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News