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Saudi Refining Capacity Grows 13.7% in 2021: OPEC

OIL

Saudi refining capacity rose by 13.7% in 2021 based on the OPEC Annual Statistical Bulletin out today.

  • Saudi increased refining capacity by 400,000 bpd in 2021, increasing total capacity to 3.327 million b/d.
  • Saudi Arabia marked the highest growth in production of petroleum products among OPEC nations, which rose 17% to 2.548 million b/d in 2021 from 2.177 million b/d in 2020.
  • The country’s proven crude reserves remained largely flat at 267.192 million barrels in 2021.
  • Saudi Arabia's cumulative production rose 11.7% in 2021 to 9.125 million b/d.
  • The country added six additional rigs, taking the overall count of active rigs in 2021 to 65.

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