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Saudi Crude Exports Breach 6.5mn bpd Level Early November: Vortexa


Saudi crude exports crossed the 6.5mn bpd mark over the first 15 days of November – rising to that level for the first time since June according to preliminary Vortexa figures.

  • It marks a strong rebound from August when they fell to 5.4mn bpd.
  • Vortexa said this could be explained by lower refinery runs in the country pushing more crude onto the market.
  • It also said it could be because of the end of the seasonal peak in direct crude burn for power gen.
  • “Saudi crude exports so far in November are up by around 1.1mbd since Aug” Vortexa said, adding “Saudi products exports are down by 500kbd over the same period.”
  • It indicates this is reflective of other factors rather than production increases.

source: Vortexa

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