Highlights of June JODI Oil Data

Saudi Arabia’s crude oil exports fell for a third consecutive month in June to 6.8mbpd, the lowest level since September 2021, while crude output was little changed on the month, data from the Joint Organizations Data Initiative (JODI) showed.

• The kingdom's crude exports totalled 6.8mbpd in June, down by 124kbpd month on month.
• Saudi crude output in June edged down by 3kbpd to 9.96mbpd, the lowest level in 19 month.
• Saudi Arabia this month said it will extend a voluntary oil output cut of 1mbpd a third month to include September.
• Iraq’s crude oil production rose by 30kbpd month on month to 3.985mbpd in June, but output remained below the five-year average of 4.207mbpd amid the halt of crude exports from its northern fields via a pipeline to the Turkish port of Ceyhan.
• Algerina crude oil production in June fell to 953kbpd, down from 962kbpd. Production levels fell below the 2018-2022 average for the first time in June.
• Angolan production rose to the highest level in ten months in June to 1.119mbpd, up from 1.11mbpd in May. However, production levels remained consistently below average throughout this year.