Saudi Arabia in July Reduced Oil Production by 9.5%, Exports by 11.6%
In July, Saudi Arabia reduced oil production compared to the previous month by 9.5%, and exports by 11.6%, according to data on the website of the Joint Organization Data Initiative (JODI).
Export volumes amounted to 6.012 million barrels per day (b/d), compared with 6.804 million b/d in June. However, it was 18.6% less than the figure for July last year.
Saudi Arabia’s oil production in July amounted to 9.013 million b/d compared to 9.956 million b/d a month earlier, according to JODI data. In annual terms, this figure fell by 16.7%.
Oil production in Venezuela in the month before last increased to 810 thousand b/d compared to 796 thousand b/d in June. A year ago the figure was 629 thousand b/d. At the same time, supplies abroad from this country in July amounted to 537 thousand b/d versus 551 thousand b/d a month earlier and 442 thousand b/d in the same month of 2022.
According to preliminary JODI estimates, the United States in July reduced oil production by 4.3% to 12.294 million bpd compared to 12.844 million bpd a month earlier. Meanwhile, over the year the figure rose by 3.9%.
Exports of American oil, according to the organization’s calculations, amounted to 3.810 million b/d in the month before last compared to 3.796 million b/d a year ago (an increase of 0.4%). JODI does not provide data for June.
