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Highlights of October JODI Oil Data

OIL

Saudi crude oil exports rose by 543kbpd on the month to a four-month high of 6.30mbpd in October, the latest JODI data showed.

  • Chinese crude oil imports in October rose by 402kbpd on the month to 11.56mbpd.
  • Chinese total oil product demand rose by 175kbpd month on month to 16.28mbpd in October, up by 1.86mbpd from 2022 levels.
  • October products exports fell by 118kbd to 1.28mbpd, while Chinese refinery crude intake rose by 409kbpd on the month to 15.65mbpd.
  • Indian oil product demand in October rose by 100kbpd on the month to a four-month high of around 5mbpd.
  • US crude oil production in October edged higher on the month by 36kpd to 13.20mbpd. Exports out of the US rose by 462kbpd to 4.62mbpd.

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