Free Trial

Highlights for September JODI oil data

OIL

Global oil demand climbed seasonally in September to nearly 1mbpd above Sep 2019 levels driven by diesel consumption in China and gasoline demand in the US. Global crude production declined slightly by 84 kb/d.

  • Russian oil production is down 7kb/d to 9.99 mb/d and is down 270 kb/d from pre-invasion levels.
  • Saudi Arabia’s crude production decreased by 10 kb/d to 11.04 mb/d. Crude exports increased by 120 kb/d to a 29 month high to 7.72 mb/d.
  • Chinese demand increased by 459 kb/d, but it was still 453 kb/d below year-ago levels. Crude imports increased by 290 kb/d to 9.82 mb/d, but were still down 197 kb/d y/y. Total product exports increased by 234 kb/d to a 15-month high.
  • US crude production increased by 72 kb/d and is up 1.13 mb/d from year-ago levels. Crude production increased by 72 kb/d and is up 1.13 mb/d from year-ago levels.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.